Expanding to Europe Through the Scandinavian Market
Most companies when thinking about expanding into Europe are lured by the big countries - UK, France, Germany. The far better decision is to enter the Scandinavian market first as they are much more open to new ideas.
Chances are, if you've been thinking about expanding into Europe, you have France, Britain and/or Germany on the brain. Lucrative markets, to be sure, but notoriously tough to crack. Smart marketers, however, are discovering the less-stressful Nordic route to the European Union.
The 24 million consumers in Denmark, Norway, Sweden, and Finland are quicker to accept new products than are their western European counterparts. In a study of 137 products, new product "time-to-take-off" is shorter by roughly 50% in Nordic countries, with Danes emerging as the fastest adopters.
Success in the Scandinavian countries can help you expand to other markets throughout Europe. Even well traveled Americans tend to forget that Europeans routinely visit other countries - just to shop.
As our clients have come to recognize, the value of current, targeted information that reflects reality - not assumptions - can be worth millions. Have you compared the markets you want to the markets that want you?
Seena Sharp authored the recently published Competitive Intelligence Advantage: How to Minimize Risk, Avoid Surprises, and Grow Your Business in a Changing World (Wiley). She founded one of the first competitive intelligence firms, Sharp Market Intelligence, serving clients from Fortune 500 firms to those whose names are unfamiliar – throughout the US, Europe, Asia and Africa. She speaks to business groups globally and has published numerous business articles.