Moods of Norway: NY market entry
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- USA 
Purpose The purpose of this document is to identify the key strategic and supplementary measures the Moods of Norway(MoN) management must take under consideration, to successfully penetrate the New York marketplace, more importantly stay there. Methodology In order to identify those areas of importance stated in the purpose, we looked at the several areas of importance such as the company´s history of expansion, identified business objectives for the New York launch, analyzed the internal and external environment including potential competition, conducted a research to gather information consumer behavior and reactions to brand stimuli, used this research in addition to information given to us by the management to plan for the New York launch, and at last we made recommendations for the preceding of the plan when entering this new marketplace. Company MoN is a Norwegian fashion and apparel brand that focus on making contemporary apparel and other merchandize inspired by the cultural and geographical characteristics of the brands country of origin, Norway. While looking at the company background, it is clear that the Norwegian culture permeates the entire organization. The company´s core competencies derive from the founder´s creative interpretation of the rural Norwegian heritage and their effort in translating that to fit the international urban society of 2012. Further, the company has had a rapid growth since it was established in 2002 and the internal analysis suggest that the company should be able to grow even more in the years to come.New York Competition Based on communication with the company management and we identified MoN´s main competitors in New York to be Paul Smith and Ted Baker. Both stores are located in SoHo and have similarities in European tailoring. In addition to these two, several other brands are somewhat similar. However, Were the design is similar, the price points are different and vice versa. This suggests that MoN has good market potential in NY. Research To identify consumer reactions to MoN apparel, we chose a qualitative approach and developed a depth interview based research instrument. We conducted these interviews at selected locations in NY, where we presumed to meet consumers that would fit MoN´s target market profile. 150 interview subjects were asked during the process that started 21st of march. In addition to revealing attitudes and reactions towards the apparel, the store interior and knowledge about Norwegian culture, the instrument was designed to collect some quantitative data as well. These data´s was collected to look for significant correlation between the responses in for instance age, residency and household income levels. Our research findings suggest that the slightly more conservative apparel is better received than the more extreme. In terms of store interior, the overall response was positive with few exceptions. Recommendations It is in our belief that MoN should standardize activities such as their merchandizing program, how they convey the brand essence to the consumers, and brand symbolic when entering new markets such as NY. The brand concept is unique, viable, and hard to copy. However, based on the relatively small size of the company, the low brand familiarity and little knowledge about the Norwegian culture and heritage, it is important that Moods continue to convey the Norwegian exotic story in all details surrounding their business. This will enable them to shift their focus from raising brand awareness to focus on increasing profits. MoN is a creative business that should focus on converting their creativity from the designing process to a business level. This will generate PR from their innovative use of social media and special events. We also believe that if the company wants to have a longterm presence on the east-coast, they should look for new distribution partners to handle merchandize for this area. Store location will be a key factor in increasing brand familiarity, and being located close to assumed competitors will allow the MoN to steal market share from them. Further, a premium location is suggested, as it is important that they are visible to consumers unknown to the brand. The store launch should in our opinion be close to May 17th 2013, which is the Norwegian independence day. This will attract Norwegian New Yorkers and create buzz around the grand opening.