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A strategic approach for Medisol's success in Greece and Czech Republic

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A strategic approach for Medisol's success in Greece and Czech Republic

Rechten:

Samenvatting

This research report presents the current potential expansion opportunities for Medisol in Greece and the Czech Republic. The report uses competitive analysis, market research and discussions/interviews to identify strategies for increasing sales in these markets. Medisol has long been committed to expanding its presence worldwide. With my recent arrival as an intern focused on marketing, the company's expansion plan has gained momentum, with marketing playing a crucial role in bridging the gap between sales and marketing efforts for these new countries. Currently, the new markets do not have dedicated websites in their respective languages and instead rely on a general English website. Hence, the challenge lies in how Medisol can expand its sales despite relying on an English webshop. The strategies of marketplace integration and SEA campaigns are identified as key factors to drive sales growth for Medisol in these markets. Medisol's market entry into the Czech Republic is impeded by the existing marketplace policies, which prohibit the acceptance of foreign companies. The research aims to guide Medisol in effectively developing sales and expanding its market presence in these countries, with a key focus on the Greek market, by the end of 2023.

The information gaps that were identified during this research are: (1) Lack of knowledge regarding the current e-commerce trends and consumer behavior in Greece and Czech Republic. (2) Insufficient understanding of the most effective marketing and sales strategies for Medisol to connect with customers in Greece and the Czech Republic, considering the absence of dedicated local web stores in these countries. (3) Limited insights on how the Marketing department can collaborate with Sales to develop and execute effective sales strategies in Greece and Czech Republic.

To answer these information gaps correctly, desk and field research were conducted. The field research consists of surveys, interviews, observations and discussions. The research focused on three sub-questions: current e-commerce trends and consumer behavior, effective marketing and sales strategies, and collaboration between the marketing and sales departments. Three main points of improvement have been identified after all the conducted research.
These points provide the solution to develop sales in Greece and Czech Republic.
The recommendations are as follows, keep in mind that a more detailed description can be found in the end of this research:
(1) Marketplace integration plan: To address the limitation of relying on an English Webshop, Medisol should implement a marketplace. By partnering with the popular local Marketplace Skroutz, Medisol can have a local presence and reach a broader customer base. This approach provides better accessibility, language customization and localized marketing efforts, ultimately leading to sales growth.
(2) Implement SEA (search-engine-advertisements) campaigns: To increase Medisol's visibility and attract targeted customers, Medisol should deploy SEA campaigns. By investing in targeted ads on relevant keywords, Medisol ensures that potential customers in Greece and the Czech Republic discover their products. These campaigns can drive traffic to the webshop and significantly increase the chances of converting leads into sales.
(3) Improving the collaboration between marketing and sales: To bridge the gap between marketing and sales efforts, Medisol should focus on fostering better collaboration between the two departments. By facilitating regular communication, sharing market insights and aligning marketing strategies with sales goals, Medisol can ensure an approach to increasing sales in both markets.

These recommendations can be implemented within a time span of 2-3 months. By making use of these recommendations Medisol can effectively develop sales in Greece and Czech Republic by the end of 2023.

Toon meer
OrganisatieHZ University of Applied Sciences
OpleidingInternational Business
AfdelingDomein Business, Vitality & Hospitality
PartnerMedisol B.V., Vlissingen
Datum2023-06-22
TypeBachelor
TaalEngels

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