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New market entry for Robert Bosch Power Tools in the housing and construction industry - Ghana
Date
2021-05
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Abstract
Robert Bosch Power Tools Ghana is a subsidiary of the larger Robert Bosch GmbH in Germany. Robert Bosch Power Tools Ghana established its office at Airport City, Accra within the year 2016. The company provides catalogues of blue Power Tools to artisans, craftsmen, and large agencies for woodwork, metalwork and building construction. Since commencing operations in Ghana, the company has continuously produced highly engineered power tools meeting the highest standards of durability with over a hundred sales outlets operating currently. The management of Robert Bosch Power Tools Ghana wants to penetrate new industries and markets within the Ghanaian Industry. Specifically, the Housing and Construction Industry. A needs assessment conducted revealed that contractors within the housing and construction industry in Ghana are battling with the high cost of renting building tools and equipment. Furthermore, there are no structured mechanisms or product service that offers readily available Power Tools to workers on-site during a house building process. (i.e.: inaccessibility). It was thus concluded that there are gaps within the Housing & Construction Industry - Ghana. Hence, Robert Bosch Power Tools Ghana can make an entry into the market or industry. Literature review showed that the company can make an ideal market entry in the housing & Construction Industry if it undertakes efficient; decision making, pricing technique, distribution and delivery process of its products. Also, contractual agreements are an ideal entry strategy for the company within the housing and construction industry.
The proposed solution develops a market entry strategy for the company in the Housing and Construction Industry. The strategy incorporates a product, Bosch Osidan coined from a local Akan word meaning; “to build a house”. The product is an onsite demand power tools for contractors within the housing & construction industry. It is backed by a marketing mix and entry strategy that ensures easy accessibility and efficient pricing methods for contractors within the Housing & Construction Industry.
Description
Applied project submitted to the Department of Business Administration, Ashesi University, in partial fulfillment of Bachelor of Science degree in Business Administration, May 2021
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Applied project
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Keywords
entry strategy, marketing