Fin International Expansion in Japan
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- Fin originated in India and has an office in California, employing 12 people full-time to manufacture their wearable technology called Fin in China and launch in Japan. - Japan is seen as a good market due to their tech-savvy consumers who adopt new technologies quickly and the country's supportive policies towards foreign investment and proximity to China. - Fin plans to target 15-30 year olds in Japan through partnerships with retailers like Apple, Nintendo and Nike, as well as advertising campaigns. They estimate sales of over 200,000 units if they gain 3% market share in Japan.
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Fin International Expansion in Japan
- 2. –Fin Website “Fin is not just a technology, rather it’s an innovation that helps u get all you need right in your palm.”
- 3. –Accenture “Japanese consumers are tech savvy and price-consicous, forcing companies to come up with cheaper prices, feature-rich devices.”
- 4. Make Life Easier Francisco Uzcategui Yesmina Morales Tony Liu Roshik MohamedWear Fin!
- 5. About Us Originated in Kerala, India Office in Palo Alto, CA 12 full-time employees College project Manufacture in China Launch in Japan
- 6. Market Environment Reasons for Japan Product Sourcing Market Segmentation Sales Strategy Finances Exit
- 9. Affordability Style Ring $165 Nod $149.99 Fin $100 Market Environment
- 10. Market Environment Strengths ! Research and development First mover Weaknesses ! Less manufacturing control Uncertainty of demand Opportunities ! Developed economy Technology savvy Threats ! Incoming substitutes Longer channel lengths
- 11. Low prices for consumers + differentiation Global Standardization Market Environment
- 12. Reasons for Japan Tech savvy consumers Quick to critical mass 2nd largest developed economy Foreign investment friendly Closer to China
- 13. Product Sourcing Leverage core competencies | Strategical adjustments | Skilled labour force
- 14. Product Sourcing Outsource | Intellectual Protection | Export | Resources
- 15. Market Segmentation Demographics ! 15-30 age group High school and working Psychographics ! Smartphone user Active lifestyle Behaviour ! Exercise and entertainment Smartphone control Decision ! High-involvement Sampling
- 16. Sales Strategy Push ! Experience product Personal selling Pull ! Media advertising Budget constraint Distribution Partnerships | Select Retail Locations | Online
- 17. Sales Strategy Partnerships | Select Retail Locations | Online Nintendo, Nike, and Apple Product sampling Product discounts Product development
- 18. Sales Strategy Partnerships | Select Retail Locations | Online Yodobashi Camera Apple Store Japan Nike Store Japan
- 19. Sales Strategy Partnerships | Select Retail Locations | Online onlineshop.nintendo.co.jp apple.com/jp nike.com/jp Advertise on:
- 20. Finances Tax exemption Angel Fund KPMG Amazon web services Japanese banks Incentives: Sales Forecast 3% Market Penetration | 8 Million customers | 244K sales
- 21. Finances Strong yen Abenomics Foreign exchange issues:
- 22. Finances Weak yuan What does that mean? Foreign exchange issues:
- 23. What if the market is not the right one? Exit
- 24. Make Life Easier Francisco Uzcategui Yesmina Morales Tony Liu Roshik MohamedWear Fin!