Go Global – from Styria to Sweden, from Vienna to Brazil, and more!
These are just a few of the travel routes that our students planned for their products last semester!
“Global Business Planning” is the final seminar in the specialization International Marketing Management organized by Dr. Elfriede Penz. The goal is to translate market entry strategy theory into appropriate strategies and reflect and assess critically decision- and marketing strategies. As a result, business plans for Austrian startups, together with internationalization strategies have been developed and are ready to be implemented. It is not surprising that some projects have already been realized or will be in the near future!
As Austria is becoming an increasingly fertile soil for start-ups and entrepreneurs, IMM students have focused their attention in this field. They selected a product, service or brand and suggested bringing them to a foreign market. This week the final presentations took place. Among the “board of directors” were Mag. Matthias Heilbrunner from the Vienna Business Agency (https://viennabusinessagency.at/funding/programs/dienstleistung-14/, IMM Alumnus) and Nina Bilic, BSc. (WU) from WU Vienna.
| Here is a brief overview of the projects: |
|---|
| ZEI° by Timeular (https://timeular.com/) is the world’s first tangible time-tracking device. “It allows seamless and effortless measuring time spent on tasks and integrates with a large number of software solutions already in use”, the group stated in their final Seminar Report. In fact, the team “Market Creators” (Maria Puica, Kinda Kuzbari, Felix Prosenz, Wolfgang Rohrbacher, and Munir Basar Palamutcuogullari) established a marketing plan as well as an expansion strategy for entering the “New York” market. |
| Wohnwagon (https://www.wohnwagon.at/) is an Austrian company based in Vienna that sells hand-made caravans made of wood, offering an autarkical sustainable home for its customers. The Team “Girls Club” (Antonia Karadzhova, Carmen Kölbl, Paula Perle, Alexandra Scharinger, Sophie Röbl) drew up a market entry plan for the Netherlands. |
| Gebrüder Stitch (https://gebruederstitch.at/), an Viennese company that focus on local, eco-friendly production of tailor-made jeans, was chosen by team “Market Gurus” (Emi Kaduku, Katharina Kern, Viktoria Kern, Ivana Raičević, Carmen Visoiu), that planned a market entry into Denmark. |
| Who doesn’t need support finding the right diet? Kiweno (https://kiweno.com/), an innovative Austrian start-up fosters people’s well-being and their health through offering various tests for detecting intolerances and deprivation of vitamins and minerals. The Team “The Rubberducks” (Sophie Baumann, Sonja Langthaler, Andreas Lengler, Preslava Petrova, Zeynep Sahintürk) developed a market entry into Spain for the company that had raised € 7,000,000 within the TV show “2 minutes 2 million”. |
| Isn’t it interesting that there hasn’t been a product that combines hats/beanies and head-torches into a single product? Well, LUMA (https://www.luma-enlite.com/) actually integrates the advantages of both products into a new lightweight/premium fabrics one. The Group “International Brains” (Claudia Wang, Daniel Kreimer, Johannes Stockinger, Kenneth Wallace-Müller, Valentin Tomek) worked closely with the brand’s founders in order to present an interesting market entry approach into Sweden. |
| MyClubs (https://www.myclubs.com/at/de), an Austrian Start-Ups, offers a flexible sports membership enabling access to an enormously diverse field of sports within urban centres. The Group “Global 5” (Sara Balitzky, Philipp Hasenöhrl, Eva Liebentritt, Mike Majnik, Bettina Reibenegger) very confidently drew up a market entry plan for Brazil. |
| Are there protein powders and electrolyte drinks, where you can be sure they are 100 % organic? The answer is yes: RoC-Sports (https://www.roc-sports.at/) is an Austrian start-up producing such 100% organic sports nutrition supplements. The Team „Mamem Consultancy“ (Michaela Amidzic, Alexandra Schieler, Marie Melchert, Erik Simkovics, Maxim Zimmermann) suggested this product might well fit into the Belgian market. |
| Finally, Die Limomacher (https://www.limomacher.at/), an Austrian company that is specialized in the production of lemonade, beer and water caught the attention of the group "The Unicorns" (Aleksandra Janežič, Lukas Reifetshamer, Miroslav Baláž, Rumyana Chernaeva). They thought that the French part of Switzerland is ready for Limomacher’s drinks, which are bottled with personally/individually-designed etiquettes. |