OLOFSFORS’ COLLABORATION WITH BUSINESS SWEDEN BEFORE A MARKET ENTRY IN TURKEY
Olofsfors AB is an internationally successful export company which develops and produces tracks for forestry machines and cutting edges and wear bars for construction machines. Founded in 1762, the company is one of Sweden’s oldest. Olofsfors reached Business Sweden Istanbul office at the end of 2015 to ask for a market analysis before their market entry regarding cutting edges and wear bars products (Bruxite & Sharq). After this request, Business Sweden supported Olofsfors in different projects such as market analysis, visiting programs and partner search for Turkish market
Firstly, Business Sweden assisted Olofsfors in market analysis project. Sector, customer and competition analyses helped Olofsfors to understand the Turkish market before making a decision on the market entry strategy. Afterwards, Business Sweden arranged a visiting program with Olofsfors’ targeted end customers; bucket manufacturers, snow blade manufacturers and contracting companies in order to initiate sales discussions. In the summer of 2016, Olofsfors had a very good understanding of market characteristics and their end customers’ behaviours.
Olofsfors understood that Turkish market has huge potential for their products and a local distributor is required to support their operations in Turkey. At the beginning of 2017, Olofsfors asked for new collaboration with Business Sweden in order to find the right local partner in the Turkish market. Currently Business Sweden is executing a partner search project for the company in Turkey which is expected to give results in June 2017.