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Foreign Market Analysis : A case study of a Canadian SME in the men's retail fashion industry

<p>Background</p><p>Internationalization is a rapidly increasing trend of firms and markets in today’s business</p><p>environment where fashion companies have evolved to be one of the most successful and</p><p>dynamic international retailers. Though a majority of SMEs in the retail fashion industry have</p><p>the potential to become international, many never do due to a number of barriers. When</p><p>making decisions regarding international strategies, it is important for companies to analyze</p><p>and understand the foreign market to determine if there is an opportunity for success on the</p><p>market. However, many SMEs fail to do a thorough market analysis prior to</p><p>internationalizing and never reach their full potential on the market.</p><p>Purpose</p><p>The purpose of this thesis is, through a market analysis, to determine if Sweden is a suitable</p><p>market for a Canadian SME in the men’s retail fashion industry.</p><p>Method</p><p>A qualitative study was carried out to help determine the purpose of the paper where data was</p><p>collected through a single case study of the company Phresh Image. Primary research was</p><p>conducted through interviews with the CEO of Phresh Image as well as focus group meetings</p><p>to collect data regarding the company and the potential customers. The interviews were</p><p>structured after the theoretical framework and included participants described by Phresh’s</p><p>target group. Secondary data was collected regarding Sweden and the Swedish retail industry</p><p>and used to compare the domestic market to the foreign market.</p><p>Conclusion</p><p>By answering the research questions, the thesis found that Sweden is a suitable market for a</p><p>Canadian SME in the men’s retail fashion industry. Branding, quality design were among the</p><p>most influential characteristics for Swedish consumers and retail companies in the fashion</p><p>industry must take these into consideration when internationalizing to Sweden. Canada’s and</p><p>Sweden’s economic, political and cultural environments proved to be rather similar though</p><p>some adaptation of a company’s marketing mix may be required. In addition, exporting was</p><p>shown to be the most suitable way for retails to enter into Sweden providing limited barriers</p><p>and low risk.</p>
Date January 2008
CreatorsZanini, Brooke, Pehrson, Caroline
PublisherHalmstad University, School of Business and Engineering (SET), Halmstad University, School of Business and Engineering (SET), Högskolan i Halmstad/Sektionen för Ekonomi och Teknik (SET)
Source SetsDiVA Archive at Upsalla University
Detected LanguageEnglish
TypeStudent thesis, text

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