Value and impact by strategy and innovation
Value and impact by strategy and innovation
Value and impact by strategy and innovation
Value and impact by strategy and innovation
Value and impact by strategy and innovation
Value and impact by strategy and innovation
Challenge
Four Reasons, a Finnish professional hair care brand, was seeking international growth but faced a challenge in determining the most promising new foreign markets for expansion. The goal was to identify markets where their product offering could thrive and develop a clear entry strategy that would maximize the chances of success. To achieve this, Four Reasons needed a structured, research-driven approach to navigate the complexities of entering new markets and create a solid plan for action.
Approach
Un/known embarked on a comprehensive market analysis to address Four Reasons' challenge. Our approach unfolded in three distinct phases:
1. Desktop Analysis: We first conducted a detailed review of six potential markets, evaluating factors like market size, competition, and growth potential. This process helped narrow the options to three high-potential markets.
2. In-depth Market Research: In the shortlisted markets, we conducted interviews with key stakeholders – distributors, salon owners, and hairdressers – to gain insights into local dynamics and business culture. These conversations revealed the market trends, consumer needs, and distribution channels that aligned with Four Reasons' product range.
3. Go-to-market strategy and implementation roadmap: Using these insights, Un/known partnered with Four Reasons' leadership to select the most suitable market and develop a detailed market entry strategy. We created a step-by-step action plan, outlining critical steps for implementation and helped shape the core messaging and flagship products to lead the entry.
Outcome
As a result of this collaboration, Four Reasons now has a clear roadmap for launching in a new market within 6-12 months, equipped with a differentiated message and a tailored product offering. The company is prepared to confidently enter the selected market, leveraging the insights from our research.
Additionally, Four Reasons now possesses a repeatable framework for evaluating future market opportunities, supporting its long-term international growth strategy.
"It matters what kind of partner you choose for business-critical issues. Un/known has an exceptional ability to generate customer insights from unknown markets and to refine them into a form that gives us a clear action plan moving forward.
I can warmly recommend the Un/known team for growth initiatives."
– Jyrki Hakala, CEO