Ali Mahmoud Marashi

Fadimatou Sallaheddine

Irfan Ali Khan

Jason Wendt

Jehan Shams

Business in the International Environment

23/11/2008

Eye-Fi in Sweden

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Table of Contents

I. Executive Summary Page 2

II. Brief History of the Nations Page 4

III. Introduction Page 7

IV. PEST Analysis Page 10

V. SWOT Analysis Page 15

VI. Market Structure Page 23

VII. Mode of Entry Page 30

VIII. Marketing Plan Page 32

IX. Human Resource Management Page 38

X. Contingency Plan Page 41

XI. Recommendations Page 43

XII. Appendices Page 48

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Executive summary

What if you could upload your pictures wirelessly via Wi-Fi and have them printed out and

mailed to your home before you even leave your vacation spot. Eye-Fi Sweden will provide a

technology to do just that. Currently we are located in the United States of America and plan to

expand to one of the most technologically advanced nations in the world. HASTE notes in its

“Swedish Survey of Living Conditions” that Swedes rank among the highest in standard of living

when compared with other countries globally. Eye-Fi Sweden foresees a large market for our

product. Our Swedish based company will offer a SD (Secure Disk) Wi-Fi memory card that will

work with any SD compatible digital camera. To achieve this we will be affiliated with

TeliaSonera, the largest internet service provider and mobile service provider in Sweden. Our

customers will receive one year’s free Wi-Fi hotspot access with our product to upload

photographs freely when near a TeliaSonera Wi-Fi hotspot. Our product will offer several

capabilities such as uploading photos to your computer or the web, geo-tagging and uploading

photographs via a Wi-Fi connection. There are currently no products that offer these features in

Europe let alone Sweden. The United States of America Commerce of Trade states that Sweden

is known to be a country willing to try new products. Our extensive research has proved this.

Eye-Fi will be expanding to Sweden and this business plan discusses our reasoning with great

detail.

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Eye-Fi’s Mission

“Founded in 2005, the company is dedicated to building products and services that help

consumers navigate, nurture and share their visual memories. Eye-Fi’s patent-pending

technology works with Wi-Fi networks to automatically send photos from a digital camera to

online, in-home and retail destinations. Headquartered in Mountain View, Calif., USA”

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Brief History of the Nation

Country History

Eye-Fi has chosen Sweden to release a wireless Secure Digital (SD) memory card. Through our

research we have determined that Sweden will have a strong demand for our product. Since

2004, Sweden has had an average increased growth of 8.3% for electronic purchases. The

Swedish consumer electronics market is estimated to increase 32% from 2007 - 2012. In 2007

the consumer electronics market generated total revenues of $1.6 billion. The United States of

America Department of Commerce states that the standard of living for the Swedish citizens

ranks among the top in the world. Aside from their known high standard of living, Sweden is

known as a country of early adopters for new products and trends. Our wireless SD card is a new

technology and has been very successful among the technology in the United States of American

and the Data Monitor for Sweden - Consumer Electronics (Date) have proved that Sweden is

very technologically advanced nation. These factors are important when picking a foreign nation.

Demographics

Our product is geared towards any digital camera user between the ages of 14 and 54,

particularly those who frequently visit social networking and photo management websites. These

numbers will be elaborated more in the Market Structure Section of the report. This demographic

makes up over 65% of the population and ages outside of this range equal 17% on each side of

the spectrum. Sweden is the largest Nordic country in Europe and has one of the highest

standards of living. Eye-Fi Sweden knows that this will be a good market to start its foreign

technology business in. The population also enjoys advanced technologies. In 2007 the

population of Sweden was over 9,000,000. Over 99% of Swedes are literate and many of them

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are fluent in more than one language. Swedes speaks Swedish, however most are fluent in

English, which will allow Eye-Fi to more easily communicate the benefits of the product and

make it easier to enter the foreign market. Eye-Fi knows that Sweden will be a good market to

start its foreign technology business since Sweden is known to have a strong tech-savvy

consumer market.

Government

It has been stated by the U.S. Department of Commerce that “Sweden is politically stable and no

changes are expected”, therefore showing that the economy can grow uninhibited and that Eye-Fi

can be rest assured that political instability will not be a concern to the business in the future.

The government of Sweden is a constitutional monarchy based on parliamentary democracy. The

government makes decisions through a cabinet of ministers, led by the Prime Minister. The

cabinet and the Prime Minister are responsible for their actions to the Riksdag (the parliament).

In the 20th century, the Social Democratic Party was mostly dominated leadership of Sweden.

Economics

In the late 20th century the Swedish economy changed greatly and service industries became

much more important and the manufacturing and agricultural industry declined. Agriculture once

accounted for nearly all of Sweden’s economy. Now Agriculture employs less than 2% of the

labor force. Today Sweden is a rich country and its people have a high standard of living. This

was achieved through the country’s extensive iron ore deposits and hydroelectric power, through

which the application of technology and efficient organization enabled Sweden to become a

leader in producing and exporting.

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The European Union is known to be one of the largest single markets in the world and in 1995

Sweden joined the European Union. They are one of only a few that has not committed

themselves to the euro currency.

With considerations to both the economy, consumer electronics market and political and socio-

cultural factors, we have determined that Sweden will be an ideal country in which to bring the

Eye-Fi range of SD cards.

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Introduction to Eye-Fi and the Product

Eye-Fi is the world’s first company to sell a wireless SD (Secure Digital) digital memory card.

The company was founded in August of 2005 by Yuval Koren, president and CEO; Ziv Gillat,

VP of marketing and sales; Eugene Feinberg, hardware architect; and Berend Ozceri, systems

architect. The team has five decades of collective experience in product development at

companies including Apple, Atheros, Cisco and Silicon Graphics. Our company headquarters are

located in Moutain View, Califorina, USA. Yuval Koren sums up the nature of the Eye-Fi SD

card simply:

“Our services will use wireless technology to automatically upload photographs from a digital

camera, making it easy for people to experience the real magic of digital photography.”

Eye-Fi chose SD memory cards for its Wi-Fi capabilities for several reasons, as SD cards are:

1. Ultra-compact, rugged, removable storage for media rich digital content.

2. Market leading and a de-facto industry standard.

3. Widely available in the marketplace from numerous manufacturers.

4. Solid state memory, that is reliable, interoperable, and easy to use.

5. Capable of offering high capacity storage.

Eye-Fi’s product removes some key obstacles such as uploading to your computer, online photo

sharing and geo-tagging to indicate where the photos have been taken. The Eye-Fi card does this

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all wirelessly via high-speed Wi-Fi transmission. Eye-Fi offers three types of wireless SD Cards

all of which have 2GB memory capacity. They are:

Eye-Fi Home ($79) - Allows you to upload photos wireless to your home PC or Mac.

Eye-Fi Share ($99) - Allows you to upload photos to your home computer and to the web

through your home network.

Eye-Fi Explore ($129) - allows you to upload photos to your home computer and the web. You

can also upload images from any of Wayport’s Wi-Fi hotspots and you can automatically have

your photographs geo-tagged in order to reveal exactly where in the world you took they photo.

This fall we have announced our limited edition card, The Eye-Fi Anniversary Edition to

celebrate the one-year anniversary of our first wireless SD memory card for digital cameras. This

fall the Eye-Fi card was selected as one of Popular Science’s “Best of What’s New Award”

recipients in the gadgets category. Each year Popular Science chooses 100 top technological

devices and Eye-Fi was ranked number 7 among them all. In the last year Eye-Fi received many

innovation and technology awards (Refer to Figure 1 on the next page to see various accolades

Eye-Fi has been awarded in the last year).

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Figure 1

In the USA, Eye-Fi cards can be bought nationwide at retailers such as Apple Retail Stores, Best

Buy, Circuit City and Ritz Camera Center locations, and at major online retailers such as

Amazon.com, Walmart.com and Costco.com. We strive to make our photo transfers ease and

effortless. Besides our SD cards being wireless we have teamed up with tens of online photo

sharing companies as well as major public Wi-Fi companies. Eye-Fi partnered with Skyhook

Wireless to provide geo-tagging capabilities and with Wayport to enable hotspot connectivity for

the Eye-Fi Explore.

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PEST Analysis

Political Forces

Sweden is a politically stable country that focuses its attention on the social welfare of its

citizens. As stated by the “CIA World Factbook”, Sweden holds an evolving economic system

with a combination of privately owned business and public oriented business. Despite the

liberalization of the public sector of the economy, the government still exercises a control on

certain products and services such as the retail sale of pharmaceuticals and alcoholic beverages

that will however not affect our product in Sweden. In addition, the Swedish government

liberalized their markets which led to a heavily competitive market especially in the industrial

sector of the economy. This can benefit Eye-Fi should we decide to expand our operations to

other Europeans countries. The government creates a pro-business climate by offering subsidies

to new start up businesses, with heavy tax relieves, rent interest tax cut, and region allocated

grants [The World Factbook – Sweden (2008)]. As a result it has become one of the most hi-tech

friendly countries in the world, which benefits the introduction of our product to the country.

Based on the investment climate in Sweden, the government is planning to further reduce the

personal income tax to further encourage the population to consume products and services. This

is a benefit to our company as we provide a consumer product more dependent on discretionary

income, which requires skilled labor to produce, promote, and distribute the product to the

market.

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Economic Forces

Sweden has improved in its standard of living with the help of its peaceful and neutral stand in

comparison to other nations of the world economy. This factor is important to Eye-Fi as we aim

to succeed in the targeted business environment and establish a profitable relationship with

customers. This high standard of living is resulting from government dedication to extend

welfare benefits and the high-tech revolution. The Central Intelligence Agency World Factbook

states that Sweden has “a modern distribution system, exceptional internal and external

communications, and a skilled labor force” (The World Factbook – Sweden). Due to its strong

and healthy business trade agreement with many international markets, Sweden has been able to

improve the welfare of its nation. The consumption expenditure in Sweden is 58% which mainly

represent an average portion of the population density [Ball et al (2008): 243].

Swedish privately owned firms account for about 90% of industrial output [Doing Business 2008

(2007)]. The Swedish economy is one of the safest places in Europe to operate a business,

especially the hi-technology sectors, which provides an added incentive and advantage to Eye-Fi

in initiating business there and lowering risk of failure. New technology promotes economic

growth and at the same time promotes technical progress. According to the Economic Intelligent

Unit (EIU), Sweden is cited to be one of the most commercialized countries for technology in

Europe and among the best in the world with 69.8% of GDP generated from the sales of telecom,

computer equipment and biotech. Sweden attracts international investors such as the United

States who invested the sum of $2.6 billion in computer software and hardware,

IT/telecommunications, industrial goods and health care in 2007. This investment it is a step

forward for our company which is planning to expand in two other international markets: Canada

and Japan in the year to come.

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Export is a big source of revenue for the Swedish government which encountered $170.2 billion

of revenue in 2007 [Sweden, In-depth PESTLE Insights (2008): 4]. The annual growth in the

economy was estimated at 2.8% this year, but with the recent slowdown in the global market and

Sweden’s reliance on international exports, the currency may adversely affect the

competitiveness of Swedish exports and can lead to lower demand for exports.

The potential threat companies should consider is the impact of this year’s global financial crisis

that has weakened the global market. According to UNCTAD (United Nations Conference for

Trade and Development) the international financial crisis will progressively slow down global

investment by 10% in the short run as companies react to instability in the financial market.

Although it was estimated that the annual growth of 2.8% will increase in the economy, we

should not ignore the impact the economic slowdown will have on the demand for our product

which is an exported products [Sweden, In-depth PESTLE Insights (2008): 36].

The Financial crisis has affected two main economical indicators which will in return affect our

performance in Sweden: The Consumer Price Index (CPI) and real disposable income. The

consumer price index is projected to fall from 2.0% in 2007 to 1.7% in 2010 (Refer to appendix

A.1), which will result in weaker demand and so companies will find it harder to raise prices.

Eye-Fi will therefore attempt to be more cost effective in reaching and selling to our market

segments (mentioned in The Market Structure section of the report) to increase the demand for

our product. Real disposable income is projected to decline from 4.3% in 2007 to 2.0% in 2010

(refer to appendix A.1), decreasing our market share in Sweden and increasing pressure to lower

prices for the end consumer.

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Sweden’s GDP rate in terms of purchasing parity power in 2007 was $338 million, and 84% of

Sweden’s GDP is resulting from the export and import of goods and services. The inflation rate

has gone beyond the 2% rate imposed by the central bank which will therefore exercise an

interest rate cut. All these factors are useful to our company, because the political and

economical statuses of a country are sometime the reasons behind an unfriendly business

climate, high transaction risk, unfair restriction and regulations imposed on foreign investors so

as to meet nation’s objectives.

Regarding the macroeconomic framework of Sweden, “an average growth rate of 2.8% in 2007,

boosted by export while domestic demand has slowed down; real GDP increasing as a result of

investment, government investment in the country infrastructure” [ Sweden, In-depth PESTEL

Insights (2008): 43]. Because macroeconomic framework and healthy government finances the

country, Sweden is now better placed for a fast economic recovery than other EU nations,

lowering Eye-Fi’s chances for failure.

The labor force represented 4.839 million inhabitants and the unemployment rate is 4.4% as of

2008. There will be a change of 1% in unemployment by the year 2010. The reason for savings

will strengthen from 8.3% (2007) to 9.2% (2010) (refer to appendix A.1), and the balance sheet

for household income will weaken to a great effect. Sweden has free restrictions on new start up

businesses; therefore in 2006 it witnessed a huge employment increase with the help of many US

companies which hired 109,620 employees to serve them in the computer software or hardware,

pharmaceutical, the automotive industries. The government of Sweden reduced unemployment

benefits which further lessened their expenses. It initiated measures to reform unemployment

through a privatization program launched by the six top companies operating within the nation to

generate $25 billion in revenues meant for the creation of jobs. The purpose of such an initiative

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is to seek workers rather than encouraging their dependence on government benefits. All these

reforms are aimed to increase the sustainability of the economy, creating a more attractive

economic environment for Eye-Fi.

Sociocultural Forces

Sweden’s population is over 9 million. Its national currency is formally known as the “Swedish

Krona” although Sweden is to be a member of the European Union, it will not dissolute the use

of its national currency the Krona. The Krona has become a strong accredited currency within

the international market. Our countries demography has four categories: the life and work

expectancy, the religion, and ethnicity.

The life expectancy of the total population is reported to be 80.7; men expecting to live for

approximately 78.4 years and women up to 83.1 years of age. As of 2008 the population growth

of Sweden is expected to increase by 0.78% [Country Commercial Guide (2008)]. As for

Sweden, the work environment is mostly populated with women in comparison to the percentage

of men, with the US Commercial Service stating that “75.4 percent of women between the age of

20 and 64 are in the workforce as compared to 80.3 percent of men” (Refer to Appendix A.2 for

a table of the mid-year population of Sweden).

Although it was ranked to be in the 6th position of the UN’s Human development index, 36% of

Sweden’s employment forces are expected to go into retirement by the end of 2015, which

accounts for 1.5 million Swedes [Country Analysis Report – Sweden (2008)]. Sweden will be

faced with future problems with a large percentage of the population being over the age of 65

years old.

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Technological Forces

Research and development (R&D), and innovation are one of Sweden’s proud strengths. The

sector’s most important aims are towards “Pharmaceuticals, automotives, industrial machinery,

and telecommunications (ICT)” [Country Analysis Report – Sweden]. The R&D in these sectors

is dominated mainly by private sectors which hold 70% of the Swedish market. A challenge

being faced by Sweden is that they are not using their technological advances to its maximum

and plans to commercialize Sweden’s advantage to competing countries which are also

improving their technology.

Legal Forces

Sweden has a judicial system that controls the country’s law and order. Efforts have been

made to change the system to become more favorable towards foreign investors and towards

reducing taxes. The reduction in tax and reforming of legal policies is used by Sweden to balance

out the global slowdown, through increasing competition in product and service sectors. By

making their reforms more effective, the Swedish government has decided to reduce income

taxes in a country with an already high income level to increase competition in private sectors.

Environmental Forces

By the help of the Swedish government Sweden is fast becoming a country which is improving

its environmental standards and is already the second least pollutant nation. Their short term plan

is by using their 2008 budget plan to build cities that are energy efficient; with new and

advanced technological development. Their long term future plan is to become an oil-free

country by 2020 by substituting current fuels with recyclable fuels.

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SWOT Analysis

Strengths Weaknesses

Unique selling point

Varying levels of features and services at different price points.

Website affiliate interactivity.

No need for USB reader, camera cables, or correct card port.

User Friendly interface, installation and configuration.

Ability to upgrade services online without additional physical purchase (and ability to upgrade through firmware).

Multiple card formats, with not all digital cameras taking SD cards (e.g. Sony Memory Stick).

Space limitations (only 2 GB). SanDisk has up to 32GB.

Adaptation to the local environment.

Limited single product offering.

Opportunities Threats

Attract businesses and 14 to 54 age group

Attractive Market

Generally advanced level of technology and connectedness in Sweden.

Robust telecommunications network

Low entry barriers

Competitors : Substitution

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Strengths

The unique selling point of Eye-Fi SD (Secure Digital) cards is the additional Wi-Fi transmitter

built into the SD card while at the same time being completely compatible with any device that

uses regular SD cards. This is coupled with online functionality and the ability to access the

Internet from any Wi-Fi hotspot to automatically upload files to affiliated photo sharing and

storing websites, providing users with greater convenience and ease of use than is possible with

competitor products.

SanDisk’s Wi-Fi capable card is more expensive at $150.00, and only has a maximum capacity

of 256MB, whereas the Eye-Fi card has a 2GB capacity and ranges in price from $79.00 to

$129.00. Eye-Fi offers 3 different types of cards, each offering varying levels of service. While

the cheapest model allows uploading to a computer, the mid-range card allows uploading to

websites directly, and the top of the line model allows geo-tagging and provides hot-spot access

for one year as a bonus (for which an arrangement will be made with TeliaSonera - Sweden’s

largest service provider).

Another key feature of the Eye-Fi cards (available with the mid and top-range models) is the

website affiliate interactivity. Through the Wi-Fi capabilities of Eye-Fi cards, consumers can

upload pictures from their cameras directly to specific photo and blogging websites on the

internet when in reach of any Wi-Fi hotspot. Users select the websites they want to upload to,

and select which photos to upload, as well as customize other settings. Many of the most popular

photo-sharing websites and blogs are included as affiliates and support Eye-Fi technology,

improving the degree of convenience and speed with photo sharing to unprecedented levels.

Website affiliates include popular websites such as Flickr and Facebook.

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Like the traditional digital cameras the pictures have to be transferred to a computer through a

USB cable or through a card reader, the computer has to be online to post the pictures on the

websites. Eye-Fi with its new innovation of Wi-Fi SD card there no need of any readers or

cables, the Eye-Fi SD card without being taken out from the device will automatically connect to

the internet and post the pictures on your desired websites which are affiliates with Eye-Fi.

Eye-Fi technology can be used with Windows or Mac PC and is easy to install and setup, serving

to not turn people away from the technology due to it being complicated. The installation CD

provided with the package installs all essential software’s needed to use this technology on a

computer. The Eye-Fi SD card when inserted in to a camera automatically configures itself to it.

After a picture is taken the camera through the SD card configuration will promptly give an

option on the screen of the camera to post the picture on the website or not to – with just one

click, a feature that many consumers will appreciate.

Eye-Fi provides an option to its customers, which is very useful in terms of time saving for the

clients and cost effective for Eye-Fi in terms of logistics. Eye-Fi provides upgrades to its

products through online firmware which a client can purchase by the comfort of their home

through using their internet at home or any hotspot provided outside by the internet service

provider in Sweden.

Weaknesses

While SD cards are generally used by most digital cameras there are still a number which use

other memory card formats. Higher end DSLR’s from Canon, Nikon and Sony use

CompactFlash memory, while Sony uses its own Memory Stick Pro Duo cards with most of its

range of Cybershot compacts and in conjunction with Sony Ericsson mobile phones. Such factors

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can hurt sales and reduce the demand for our product, which is primarily targeted towards digital

camera users.

More technically demanding consumers may also find the 2GB capacity of Eye-Fi cards limiting,

with competitors such as SanDisk providing fast processing (yet expensive) SD cards that can

hold up to 32GB of memory. Speed of transfer can also be an issue with SanDisk currently

producing the fastest cards on the market. The issue of memory capacity will become an even

greater issue in the future as digital cameras advance in terms image resolution, with pictures

having more megapixels and consequently using far more memory, which will naturally lead to a

greater demand for higher capacity memory cards.

It is important to note that Eye-Fi is a new entrant in the Swedish market, and as a result has no

firsthand understanding of the local business and consumer culture, whereas existing and

established competitors do. Additionally, with no prior business experience outside of the US,

Eye-Fi is at a disadvantage in the new foreign market, and will need time to learn the new market

culture and about doing business abroad in general.

While Eye-Fi offers three variations on the Wi-Fi SD card product it produces, it is very limited

as a company in that it only produces a single product, with nothing else to help build the brand

or increase revenue and scope for the company. SanDisk on the other hand is already well-

established internationally and offers a wide range of products at different specifications and

price-points, marketing to a wider customer segment as Eye-Fi through a greater available price-

range and a more varied and robust product line.

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Opportunities

Our product may be used by those anywhere in the 14 to 54 (although our primary target

represents a smaller group), which occupies 57% of the total population in Sweden, a very

substantial market. The Swedish consumer electronics market generated total revenues of $1.6

billion in 2007, representing a compound annual growth rate of 8.3% for the period spanning

2003-2007 [Consumer Electronics in Sweden (2008): 8].

The Swedish Internet access market generated total revenues of $2.3 billion in 2007,

representing a compound annual growth rate of 4.4% for the period spanning 2003-2007. Market

consumption volumes increased with a CAGR of 6% between 2003 and 2007, to reach a total of

7.2 million users in 2007. The market's volume is expected to rise to 7.9 million users by the end

of 2012, representing a CAGR of 2.1% for the period 2007-2012 (Refer to Figure 2 below)

[Logistics in Sweden (2007): 9]. As our product’s key features rely heavily on internet usage this

is a very promising factor that can be used to Eye-Fi’s advantage in the future.

Figure 2

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Sweden has also performed well in terms of other indicators like the penetration of ICT. The

World Economic Form’s Global Information Technology Report ranks Sweden in the second

position in terms of its “networked readiness index” in 2006–2007. The country has a mature

ICT market with mobile phone penetration among the highest in Europe and broadband

penetration about twice the EU average. Mobile phone penetration per 100 people stood at 103 in

2007, and almost 80% of the population regularly use the internet. The above factors explain the

technological strength of the country, which has led to its competitive advantage.

Threats

The market is populated by strong brands, to which end-users can be loyal. Although the

electronic products on offer bear a strong similarity to each other, in some cases there is

significant intellectual property embodied in an established player's products. On the other hand,

retailers will generally wish to offer their customers a wide range of brands and price points, and

switching costs are not all that high. This, together with strong growth in the Swedish consumer

electronics market means that on aggregate, the likelihood of new entrants can be classed as

moderate to high (Refer to Figure 3 below).

Figure 3

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Demand for Wi-Fi products can be boosted by the heavily-marketed release of latest versions of

trendy products. Enhancements to consumer electronics products, on the other hand, are

generally incremental, although genuinely new categories (such as Digital Camera with Wi-Fi

technology) can seem very strong growth. However, in our categories such as Eye-Fi SD cards,

there are few alternatives for consumers, and retailers in this market will therefore need to stock

these items. Overall, there is a moderate threat from substitutes.

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Market Structure

Market Description and Outlook

As the Eye-Fi SD card is to be primarily used by digital camera owners, analysis of the consumer

electronics and digital imaging markets in Sweden will be necessary. With greater information

on these markets Eye-Fi will be in a better position to make effective decisions with regards to

the product. Sweden’s share of the consumer electronics market in Europe is 2.5% (Refer to

Table 1 below), which is less significant at first glance than nations such as Germany.

However, as reported in the “Consumer Electronics in Sweden” report in April 2007, Sweden is

often used as a test market by producers of consumer electronics [Consumer Electronics in

Sweden (2007)].

The consumer electronics market in Sweden has experienced a generally steady and positive

increase in value over the period from 2003-2007 as can be seen in (Refer to Figure 4 on the

following page). However the market suffered a decrease in growth in 2004, which was

subsequently followed by an increase in growth from 2005 to 2007, also evident in the chart.

Between 2008 and 2012 the growth rate is expected to decelerate although it should maintain

positive growth nonetheless.

Table 1

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This can be seen illustrated in Table 2 below, which shows the expected percentage market

growth rate falling from 9.6% in 2007 to 4.2% in 2012, with an expected compound annual

growth rate (CAGR) of 5.7% for the five-year period as opposed to the CAGR of 8.3% for the

period from 2003-2007. This will bring the value of the consumer electronics market in Sweden

to an estimated value of $2.1 billion by 2012, up from $1.5 billion in 2007, an increase of 32%

from 2007. Even with the expected deceleration in the growth rate, compared to neighboring

nations such as Germany and Denmark, which are expected to have CAGR’s of 1.3% and 5.1%

respectively, over the same period from 2007-2012.

Table 2

Figure 4

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With regards to the digital imaging market in Sweden, a study by GfK Group in 2006 revealed

that an estimated 50% of Swedish households had purchased a digital camera, with many

purchasing their second and third digital cameras. SLR cameras in particular were showing a

growth rate of 75% with the trend expected to continue positively. In just the period between

January and July of 2006, an increase of 5% was found when compared to growth from the

previous year. Additionally, it was noted that 20% of the year’s sales were during the Christmas

period [The Swedish Imaging Market (2006)].

Target Audience

The target market for Eye-Fi in Sweden will need to be accurately defined in order to create a

more focused and effective marketing campaign. As stated in Ball et al.’s “International

Business: The Challenge of Global Competition”, some consumer products can be sold to certain

segments of a market without any need for adaptation if the segments have similar characteristics

across countries [Ball et al (2008): 477]. With regards to consumer electronics this is exactly the

case, with little or no adaptation required and most segments buying the products for the same

reasons. Therefore Eye-Fi can not only sell the exact same product in Sweden, but it can sell it to

the same demographics it targeted in the USA.

This is further supported by the 2007 Consumer Electronics in Sweden report, which noted that

Sweden has been “seen as a pilot market, suitable for testing new products, by many of the

bigger electronics companies” [Consumer Electronics in Sweden (April)]. From this information

we can thus infer that global data on consumer electronics demographics can be transferred and

applied to the Swedish consumer electronics market, and the same should be true for Internet

usage.

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Seeing as a major feature of Eye-Fi is the ability to upload photos to social networking and

photo-sharing websites, it is safe to assume that a majority of our target customers will be users

of these websites, in particular those with which Eye-Fi is affiliated, such as facebook.com,

photobucket.com and twitter.com.

Table 3 below is based on research done by comScore into the demographic breakdown of US

visitors to such social networking websites as MySpace, Facebook, Friendster and Xanga.

Provided in the table is information on the percentages of each websites unique visitors broken

down into demographic segments based on age.

The data in the table above reveals a few significant insights, the first of which is that those in

the US aged between 12 and 17 are a smaller percentage as when compared to the 35 to 54

demographic (which can however be attributed to the larger age sample size of 20 years as

compared to only 5 years for the teen group). However as expected, facebook.com visits for

those aged 18-24 are very high at 34% in the USA, which are among the primary group targeted

by Eye-Fi in the USA.

Figure 5 on the following page shows more recent (2008) data on the age segmentation of

facebook.com members worldwide based on research done by O’Reilly Research. The graph

reveals a shift towards younger users (particularly in the US when considering the 2006 data in

the previous table).

Table 3

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Once again the 18-24 demographic is quite prominent and older segments seem to be less

involved. Global statistics also show similar results, with a similar focus on younger groups.

The reason we have chosen to look at Facebook as a representative website is that not only is it

the largest photo sharing application on the web with more than 10 billion photos having been

uploaded to the site according to comScore, but it is also particularly popular within Sweden.

Figure 6 on the following page shows the share of Facebook members from different countries,

and the large number of members from Sweden places the country in the top ten [Where Does

Facebook Grow From Here (2008)].

Statistical research data on the facebook.com own webpage mentions that there are over 55,000

regional, work-, high school-, and college-related networks on Facebook, and even though the

website was originally a college based network for studemts, today over half of Facebook users

are outside of university [Facebook Statistics].

Having established that the Swedish consumer electronics market is representative of global

consumer electronics market, we can estimate by analogy and use this data to select the primary

age range of our market in Sweden.

Figure 5

28

The Eye-Fi will therefore be largely aimed at young Swedes, primarily in the 18-25 age group

(but also extending to cover 14-54 year olds). While more than half of Facebook users may be

outside of university many, the college market is still highly significant and should be targeted

nonetheless as well as those who have left university and those still in high school.

Individuals in our primary target market “are very fond of new technological products and like to

buy new things to show their economic status” [Consumer Electronics in Sweden (2007)]. These

naturally more receptive target customers are tech-savvy, with over 84 percent of Swedes being

regular Internet users according to “Statistics Sweden”, with one in three Swedes surfing on a

wireless connection. Our targets have high speed access to the internet with Sweden offering the

Figure 6

29

second fastest broadband connections in the world, coming second only to Japan [Sweden leads

world in broadband density (2008)].

As referenced by the high standard of living and high levels of discretionary income in Sweden,

we know our target market to have the necessary financial requirements and purchasing power to

buy our product. Naturally our target demographics are heavy users of social networking and

photo-sharing websites like facebook.com, flickr.com, and twitter.com. They frequently visit

these websites and use these platforms to upload and share photos with others. This target market

will greatly appreciate the ability to instantly upload their photos to their computers and to their

favorite social networking sites without having to press a button or attach any cables to their

camera, and will also see this highly innovative and time-saving technology as a social marker to

differentiate themselves from others.

To further our reach in the Swedish market we will also market towards a more general target

audience. This target have a wider age-range bracket, and may only use the Eye-Fi card to

simply upload photos to their computers or to affiliate websites such as costco.com and Wal-

Mart’s Digital Photo Center webpage in order to conveniently create prints. Eye-Fi’s secondary

target demographic is anywhere between the ages of 14 and 54, and use the internet for time-

saving activities and for added convenience. Such activities could include photo-printing through

online websites such as costco.com. Others may use the internet to try and sell property on

websites such as propertypreviews.com, another Eye-Fi affiliate website where users can post up

photos and videos instantly with their Eye-Fi cards in order to help sell real-estate.

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Mode of Entry

Eye-Fi has decided to go to Sweden under a joint venture mode of entry. As stated by Julian and

O’Cass, “international joint ventures are a key form of international business” [Country

Commercial Guide (2008)]. We as a company have agreed that after a thorough evaluation and

analysis of our advantages, disadvantages and Eye-Fi’s current capabilities, the best way to

introduce our product to the Swedish community is through opening an Eye-Fi branch in that

nation. The branch will be called Eye-Fi Sweden. Our initial plan is to partner with a local

Swede who will also invest in Eye-Fi Sweden as well become our local representative for us, as

he/she would have a better understanding of Sweden, have local contacts, and may be familiar

with local operations. By choosing to go into a joint venture we will come to an agreement

between ourselves and our local partner on how the ownership will be shared and an “agreed-

upon proportion of equity” [Ball et al (2008):228].

Using a joint venture strategy gives us “considerable opportunities” [Ball et al (2008): 228].

With our joint venture we will be able to take advantage of a rapid entry into the Swedish

domestic market. Julian and O’Cass are quoted as saying that using a joint venture “normally

[has] lower transaction costs and offers strategic or specific local business advantages” [Liang

(2008): 475]. We also get the opportunity to bypass trade barriers where we could achieve

economies of scale and position ourselves at a competitive advantage. We also gain knowledge

of new managerial and technological skills [Ball et al (2008):228]. For the aspect of risk we

share our risks, where it is spread out between us and our local partner.

Eye-Fi will reduce risks by entering the market with a local partner, the disadvantage of this

being that we have to share our profits. Another disadvantage concerns the control of technology

31

transfer between partners and that loss of communication may occur during the decision making

processes. Eye-Fi had a number of equity based mode of entry choices when considering

Sweden as a market, including through a wholly owned subsidiary and through strategic alliance,

however it was felt that they did not best fit with Eye-Fi’s future plans, and that Joint ventures

were a better choice.

If Eye-Fi had decided to enter Sweden with a wholly owned subsidiary, it would have provided

Eye-Fi with greater control and larger profits; however it would also require the largest

investment and would involve the greatest risk. Another disadvantage could be the reaction of

our companies presence in Sweden, could have towards Sweden’s environmental factors such as;

attitudes to foreign companies, currency stability and or if the people are very nationalistic.

The other possibility considered, strategic alliance, has disadvantages including higher

probability of failure compared to any of the other mode of entry strategies. They can also be

harder to manage due to the different strategies clashing between the international and host

nation firms.

32

Marketing Mix

Product

Eye-Fi’s SD card will be marketed as a consumer good, however while it is generally necessary

to modify consumer goods in order to meet local market requirements, the Eye-Fi SD card will

not be in need of any modifications when being brought to Sweden [Ball et al (2008): 477]. As

established by the U.S. Commercial Service, Sweden is known as the most Americanized

country, with “Swedes [being] very receptive to U.S. products, which will allow our product to

perform well in the country without much or any adaptation [Country Commercial Guide

(2008)]. Consumer products such as the Eye-Fi are targeted at a more globally homogenous

target market and don’t need to be adapted as much to local markets due to the universal nature

of such technology, with consumers globally receiving the same benefits from them and

demanding similar features [Country Commercial Guide (2008)].

Adaptation would also be unnecessary with regard to all aspects of the total product. The

physical product will remain unchanged in terms of the card itself and its specifications. The

warranty would stay the same, as well as packaging and instructions which would not require

changing in terms of language as most Swedes are fluent in English and cultural differences

don’t require that the look of the packaging change to better suit the market [Country

Commercial Guide (2008)].

In standardizing our product abroad not only can we market the product in Sweden in the most

effective way, but we can also benefit from other advantages such as cost savings from having a

product that does not need to be adapted, benefiting from economies of scale [Calantone (2004):

186]. We can benefit from other economies as well, such as a longer experience curve, as we

33

become more proficient in creating the standard product [Ball et al (2008): 475]. Advertising

campaigns can be transferred and promotional materials can be reused, and our creative process

will not have to be redone again saving on costs. Additionally, this will help create a

standardized corporate visual identity internationally.

One aspect that will have to change concerns the more expensive “Eye-Fi Explore” card, which

includes one year free Wi-Fi hotspot access as part of the purchase. In wanting to provide the

same benefit to Swedish customers that US customers enjoy, local Swedish internet service

provider TeliaSonera will be contracted to provide the Wi-Fi access to those customers.

Promotions

The best strategy to pursue with regards to Eye-Fi in Sweden is to sell the same product with the

same message, due to the target market varying very little with regards to product use and

consumer attitudes as mentioned earlier. Eye-Fi can therefore use the same product and employ

identical promotional appeals in Sweden to positive effect.

According to Ball et al, advertising has the greatest similarities worldwide of all the promotional

marketing mix elements, and this coupled with our choice to send the same message as used in

the US, provides an easier and cheaper method of advertising in Sweden [Ball et al (2008): 483].

The US Commercial Service webpage on Sweden states that “advertising plays a major role in

Sweden’s commercial life” and that daily newspapers and published materials are the most

prominent media types used in advertising, making up more than half of all commercial ad spend

in the country [Executive Report on Strategies in Sweden (2007): 19]. This is followed by direct

mail and then radio and television commercials. As this is the case we will focus most of our

traditional advertising budget on published magazines and newspapers, however the majority of

34

advertising budget will go towards nontraditional advertising, using the internet where we can

gain access to “an affluent, reachable audience” [Ball et al (2008): 485]. As our target

demographic are heavy users of social networking websites, we would be assured to reach those

consumers most valuable to us by advertising online on social networking websites such as

facebook.com and Picasa. These websites are on the Google network and so we could cover our

affiliate websites with an online campaign run through Google Adwords, specifically targeting

those facebook.com users who are connecting from ISPs in Sweden, thus guaranteeing a very

large effective reach and frequency that is efficient with minimal wasted reach as we can

specifically target just our intended demographic. With the high number of English language

speakers in Sweden, ads can run in English without any negative effects. For those in Sweden

wishing to buy Eye-Fi products through the internet, advertisements will link to large consumer

electronics retailers such as Giganten.com which will both sell Eye-Fi products in their brick-

and-mortar stores as well as through their website. Google Adwords was chosen due to the very

high reach of Google network websites, ranking it the highest in the world at 75.5% in May

2008 (Refer to table in Appendix B).

Considering cultural dimensions of Sweden and its impact on advertising, we find enough

similarities to that in the US to support using the same message in the country, and where

differences do exist; they do not pose a problem considering Eye-Fi’s strategy. Ball et al in

describing the various cultural dimension affecting advertising, list a few of the similarities

between the US and European markets [Ball et al (2008): 483-484]. Both markets are found to

use more direct messages, which is appropriate for Eye-Fi in delivering its message clearly and

conveying the benefits and value to the customer. US advertisements tend to use more modern

35

popular culture references in their advertising and this is the same for Sweden as it is very

Americanized in contrast to other European nations [Country Commercial Guide (2008)].

The contract with TeliaSonera to provide internet access to those who purchase the Eye-Fi

Explore card will fall under an agreement which will provide Eye-Fi with a greater opportunity

to promote itself in Sweden. Under this deal, Eye-Fi will gain TeliaSonera as an affiliate, lending

added exposure and integrity to Eye-Fi in Sweden as TeliaSonera is a credible company and the

largest telecommunications provider in the country. Additionally those visiting the TeliaSonera

website will be able to find a link to Eye-Fi in order to find more information or purchase the

product. Additionally the company will then be in a better position to promote its product

through the same channels that TeliaSonera use to reach its customers, many of whom are

targets for Eye-Fi, particularly with regards to traditional advertising used to reach our secondary

demographic.

Distribution Strategies

Eye-Fi’s two objectives in deciding on our distribution strategy were to decide how to get our

various card components to Sweden and how to distribute the cards from the assembly plant

once they were. We also need to find out what specific channel members to choose to best satisfy

our distribution strategies. In preparation for choosing the distributor members, visits should be

made to Sweden by Eye-Fi representatives in order to see the distribution networks firsthand and

in order to form relationships before Eye-Fi actually starts operating in Sweden.

Sweden being a country that is already technologically advanced and up to date with all the latest

gadgets in the market gives an advantage to our company and product due to there being no need

to alter or change our product to suit our target market as already mentioned in the marketing

36

mix section of this plan. We have hired an assembly company who will be shipped our card

components and assemble them in Gothenburg. The reason to why we have chosen Gothenburg

is because it is the industrial center of Sweden, and as stated by U.S Commercial Service “the

nation's foremost port for international shipping”, making it easy to ship our components to them

[Country Commercial Guide (2008)]. Another reason for choosing is because Gothenburg like

Stockholm has many major highways passing through it that provide easy distribution to the rest

of the nation.

As well as hiring an assembly company we also will be hiring a distribution company in Sweden

to distribute our Eye-Fi cards to digital and IT retailers spread out around Stockholm. Our

distributor will be located in Stockholm because 85% of Sweden’s populations live in that area

and all major highways go through Stockholm as stated by the U.S Commercial Service

[Country Commercial Guide (2008)]. We’ve also decided to choose a distributor because they

already know the market, are familiar and can operate more successfully; and they have also

established a good networking relationship with the market.

Channel Selection

Before choosing the right channel selection, a business must evaluate their channel selection

based on their “market coverage, cost, and susceptibility to company control specifically into the

product, company and middlemen characteristics [Ball et al (2008): 496]. We have decided to

sell our product through an indirect seller because it is characterized as a consumer product [Ball

et al (2008): 496].

Market characteristics were analyzed in the areas of product, company and middlemen in

making the decision on whether or not to use a third party distributor. Our product is an

37

expensive non-perishable consumer product which is sold in small quantities so we will be

having long channels. It also is not a highly technical product so we will not need knowledgeable

agents, which is why we have hired distributors who have already established distribution

networks.

Seeing as we are new to the country, Eye-Fi is not prepared to position financial managerial

resources for our sales force, and additionally the company is inexperienced in the market. So we

hire middlemen to go forth and take responsibility for the sales of our product.

As our product is considerably small in size there will be no need for large warehousing or

special storage. The requirements of our middlemen are for them to have well established

distribution channels reaching the appropriate consumer electronics retailers. Our chip does not

require after sales services so we don’t need to get involved in providing our own sales agents

but can instead rely on third party distributors.

The alternative to this would be to distribute the product ourselves, which would provide

advantages such as not having to pay the middlemen, however as noted by Deusen et al, when

the middlemen are eliminated, the costs associated with the services they provide are not, as the

firm itself needs to cover those expenses [Deusen et al (2007): 351]. For this reason and for the

advantages associated with using middlemen with regards to our product, the use of middlemen

is the best option to move forward with.

Human Resource Management

Management Summary

Human resources’ aim is to facilitate proactive solutions for the people in the company.

In a changing environment we need to consider all of the ways our employees are

supported. It requires a clear understanding of current leadership, management of

employees, and the influences on them from inside and outside of the organization. This

understanding enables us to develop practical solutions for the company in order to meet

the challenges of our service provision to the communities we serve. Human resources

are a key enabler of organizational transformation supporting the drive for excellence in

the company. Human resources’ provide full consultancy and advisory services to the

employees of Eye-Fi Sweden.

Key Initiatives

The HR Business Planning Team from the Eye-Fi has identified the following key

initiatives for implementation over the next five years. The primary goal of the business

plan is to identify initiatives that add significant value to the organization and are

obtainable within the company.

1. Develop and implement an organizational 5-year Diversity Plan.

2. Within 5 years the HR Department will have created accessible information

management systems.

3. Build manager capacity so that the company has and retains a competent workforce.

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Our Management Structure

For the first few years our management team will mostly employ workers that have

previously worked in our company. This will ensure our company’s structure, ethics,

policies and codes are enforced and maintained in Sweden. We will hire a local Swede as

our vice president for Eye-Fi Sweden. He or she will help and guide us along our

international transition. Our polycentric approach for a local vice president will guide our

company become familiar with social, economic, political and legal environment and

with business practices for Sweden. Our American president on the other hand will

ensure the company stays true to the Eye-Fi business model, bringing in his experiences

with having worked for Eye-Fi in the US. When the time is right Eye-Fi Sweden will

phase out most Americans from the company. We will have a 2-5 year phase out program

which will turn over our employment to more local employees. According to Dr. Treven

from the University of Maribor, hiring local workers will encourage them to stay with our

company and by informing them that we will be moving our American staff out of the

company they will have room to grow in our company [Treven (2006): 120]. Our staff

will see the potential and we hope that this will lead to more successful employment. The

two crucial employees to make Eye-Fi Sweden successful are listed below along with

their required qualifications.

President: The president of Eye-Fi Sweden will be a successful employee formerly

having worked for Eye-Fi in the US, that is open minded and willing to adapt to a new

culture. He or she will be one of our hardest workers and one who understands that he is

key in keeping our company structure and ethics abroad. His job will be temporary. The

40

more success Eye-Fi Sweden has and the faster our local Swedish employee fits in with

our company, the more quickly the president will move back home.

Vice President: The vice president will be a local Swede who will be experienced in

management and joint ventures. The vice president will need strong leadership skills to

carry the company and increase our sales in Sweden. Since the vice president will be the

right hand man for the President of Eye-Fi Sweden his skills must be very similar. This

employee will have the opportunity to grow within the company with our phase out plan,

likely taking the position of President if deemed qualified.

41

Contingency Plan

In case of a future scenario where our venture into Sweden is to be unwelcome and

unsuccessful due to a weak response or reception from the customers, or if our

technology were to go obsolete, our company will try to expand the reach of the product

to sell in neighboring European markets such as Germany, Denmark, Switzerland and the

UK. In the case of product obsolescence, the firm may still have the option to expand the

Wi-Fi technology to new platforms, such as SDHC, CompactFlash or other formats of

memory. Germany, Denmark, Switzerland and the UK are countries of the Nordic

regions which maintain political and economical strength with mutual agreement and

adoption of a currency, the Euro, which facilitate and lead to their economic growth. One

of the reasons why we assume that it would be advantageous to expand our operations in

the European zone (Nordic region) is as a result of the high population density this region

represents for our target selection and because we can reposition our target consumers

and focus on a smaller selection group falling below the average maturity age. The

second reason will be the close location and the fair trade agreement Sweden maintains

with other European countries. This trading agreement will be helpful during the full

transfer of our operation with no considerable fear in cost, regulations and staff mobility.

In addition, these regions are equally developed in terms of technology and quality of life

standard that further encourages us to expand. Furthermore, assuming that sales can drop,

our objective will be to reestablish the value of our product with a different promotion

mix approach. Instead of selling through retailers already installed in the country of

selection we could lease out a portion of our company to sell products through Eye-Fi

owned kiosks in locations such malls, airports, and movie theatres, and then concentrate

42

the remaining structure of our production into “market niches” back in the home country.

The third plan we are to follow if we are to fail is to continue with the R&D (Research

and Development) in Sweden in order to support our product in emerging markets Japan

and Canada, as well as the United States of America. The goal we are aiming is to be

more efficient in terms of production, distribution and selling. Introducing a product in a

new market is a big challenge to any company established abroad; therefore, the necessity

to avert the risk for failure should be well valued.

43

Recommendations

Extending our business to Sweden will be a profitable project. Sweden is one of the

world's top 10 economies in terms of ease of doing business, and has a high number of

social network and photograph management website users. The local Swedes

commitment to trying new technology and being a technologically advanced society also

show that Sweden would be our best test market in Europe. Eye-Fi Sweden has

concluded with good reasoning and credible sources that a move to Sweden would be

good market and a smart choice when choosing a foreign nation to move to.

44

Appendix A.1

Appendix A.2

45

Appendix B.1

46

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