Ecco is a Danish shoe manufacturer and retailer founded in 1963 by Karl Toosbuy in Bredebro in Denmark. Ecco shoes are sold in more than 90 countries. The company has expanded its operations into markets worldwide. Applying relevant theories, we made a research on how Ecco can be profitable in Turkish market. By doing this project we combined market research and use of methods to do a project. Our target audience of the project is teachers and marketing students. 3 December 2011
With these report we have been able to analysis Ecco as a well-known company with good brand and mission to globalize. During the report we figure out how Ecco can be profitable in turkey which is nonwestern with Islamic culture country. In this report we use theories like swot, porters five fore, and value chain to determine our problem statement and as a results we analysis the advantages and disadvantages, strength and weakness as well as threat and opportunities Ecco may encounter before and after it enters Turkish market. We have been able to come out with the method that if Ecco want to gain attention and profit in Turkish market, it has to be able to respect the culture and mingle well with the citizens and hence concluded that Ecco adaption of this method and theories can earn profit in turkey.
Table of Contents
How can Ecco be profitable in the Turkish market?5
Porters five forces13
Advantages to enter the Turkish market17
Disadvantages to enter the Turkish market17
Every company has the dream to go global. Ecco is one of these companies. Ecco is a multinational who sells shoes all over the globe. The headquarter is situated in Denmark. The company is owned and managed by the Toosbuy family since 1963. The company has customers all over the world and they are still trying to enter new markets. Problem statement
How can Ecco be profitable in the Turkish market?
In this project we are going to analyze how Ecco can be profitable in the Turkish market. There are many barriers to enter the market of turkey. They have to consider the culture, religion and the habits of the Turkish population and the government regulations.
Ecco is very innovative and they always to reach more potential buyers. When they enter the market they want to be unique and wanted. People must have the need to buy the product because it is nice to wear, comfortable and it has a nice design. Internal
Each and every company uses the latest technology. Ecco tries to beat their competitors and they want to become the market leader. They train their employees to acquire the needed skills for better technology. With these skills the employees are more innovative and creative. One example of this innovation is the direct injection of soles. Brand value
Ecco already survives in the shoe business for more than 48 years. They became one of the foremost shoe companies thanks to their commercial campaigns. For example Ecco walkathon is one of the many commercial campaigns that give their brand a good name because they're giving a lot of their money to charity work. Thanks to Ecco walkathon they became popular for all kind of customers, also for the poor people. Since the beginning of 1999 the event has developed into an international event. In 2006 over 40000 people gave 2.8 million Danish kroner to charitable causes in Copenhagen, Berlin, Stockholm, Amsterdam and Warsaw. Ecco is not known in Turkey like it is in the rest of Europe. So they don’t have a competitive advantage by...