Norway – a growth arena for international brands
The Norwegian market has become a very attractive arena for international brands to expand into. As most of Scandinavia, Norway itself is generally a very forward thinking country, and more often than not, new technology is swiftly adapted.
Already today, Norway’s consumer and business brand sphere is full of successful international products and services – more often than not, with a locally adapted offering. The country in general is known for the export of oil and gas, and salmon – unfortunately, until recently, not much else. Unlike Denmark and Sweden, Norway has very few internationally acclaimed brands to show for. It lacks the IKEA and LEGO. For now. But times are changing and Norway is slowly becoming an incubator for new thinking, fresh new ways of doing business and innovative initiatives that may change the way “things” are done on a global scale.
The Oslo brand as an example
The capital alone is working hard to create an international position – the pioneering young city of Oslo represents a profoundly well-developed brand strategy that will put this city on the map – which certainly is good for local and international business. Read more about the Oslo Brand Project here: http://www.projectosloregion.no/?lang=en/
Planning the business
Setting up shop in Norway can possibly be extremely lucrative, however can also come at a price. German budget grocery chain Lidl, or UK-based department store giant Marks & Spencer can sing a costly song about this. M&S is now back in Norway – this time only with its food-court, and through a franchise agreement with a local multi-shop agency.
As an example Tesla’s (teslamotors.com) market entry was highly successful, not necessarily because they had the better car, but because they hit the market at the exact time where all of the external rules and regulations (read: taxes) played in their favour. Combine that with a low dollar rate, and you have a major success story on your hands. However, most businesses usually do not have that coincidental luxury of regulative advantages.
There are as many examples of failures as there are success stories, and succeeding in this market requires in-depth local knowledge and market understanding. Still today, even neighbouring countries like Denmark and Sweden often fail at understanding the local cultures and buying behaviours and with that fail with their business ventures.
Norway Business Feasibility Package
thebrandproject* together with our partners have developed a “Norway Business Feasibility” (NBF) package aimed at international brands to execute before launching their venture in this hemisphere.
The process is based on an identity-based strategic approach and focuses on crystal clear intelligence to ensure the soundness of the strategic landscape your brand is about to enter.
From here we move to the strategic planning, with concrete and local (if necessary) adaptations to brand strategy, design and identity, and overall strategic positioning of the new brand.
From here-on out, we can address implementation tactics, organizational development and launch opportunities.
Our team of seasoned business developers, change agents and branding specialists is ready for your endeavour. If you are up for challenge, and serious about conquering this unique market, get in touch.
We are here for you. Our key advisors can work with you in German, English, Norwegian, Danish, Dutch and Swedish.
Welcome to your project.
*If you want to review other articles dealing with business ethics and investing into this country, have a look at these: