Milestone Master Thesis: Developing market entry strategies with HOLZRICHTER Berlin
Should a company enter a foreign market or not? Which market entry strategies are the most promising to increase the chances of being successful in a market?
The perfect topic for problem solvers
Why not applying your theoretical knowledge on a real business case and writing your thesis in cooperation with a company? Just like our IMME students Niracha Marchetti and Yu-Hsuan Shen, who have been investigating the market entry opportunities for HOLZRICHTER Berlin, a young e-commerce business devoted in high-quality hand-made leather bags. While Niracha examined the Japanese market, Yu-Hsuan had a look at the market conditions in the USA.
“When I applied for writing my thesis with the Chair, I was asked to rank the proposed topics in order of preference. I chose this topic without hesitation, because I like to solve problems. And I think it’s a good opportunity to work with a company and apply what we have learned so far to a real-world setting”, says Yu-Hsuan. “The company provided us with business insights on their performance of online activities via Google Analytics. Seeing the actual numbers on a real case is such a great opportunity!” In addition to these data, Yu-Hsuan and Niracha have collected qualitative and quantitative information from other sources, such as news articles, statistical reports or case studies, to explore the respective markets from different perspectives, draw the right conclusions and give practical recommendations.
A door opener for future careers
The key challenge lies in gaining in-depth insights on the Japanese and the US-American consumer, the cultural backgrounds and the local competition and market conditions. Nevertheless, becoming an expert can also be fun, as Niracha admits: “First, I thought developing strategies could be a challenge and scary as I have never done anything like this before. But the more I read, the more interesting perspectives I discovered, and it surprised me how many ideas I have which could potentially help the company to deal with a certain market. I must say that I enjoyed working on my thesis a lot. Not only did I gain new perspectives about Japanese people and the market, but I also got to learn how to analyze and use the data I have at hand and turn it into something creative, something that I developed, which could potentially make the company grow one step bigger. This is the best training and the most important experience I could gain from writing my thesis in cooperation with the company: It is not just about getting my thesis done, but it is an opportunity for me to put my ideas out there in the corporate world. I think this is the chance where the corporation pays attention to your ideas and might actually consider using your input practically. I find this to be a great deal, which will hopefully open some opportunities for my future career.”
Five tips for writing your thesis
Are you about to write your thesis soon and are hungry for any tips that you can get? Here you go! Yu-Hsuan and Niracha share their best tips:
- You don’t need to be afraid: You will not be on your own with your thesis. If you ever need help or don’t know what to do next, your supervisors will always be there to assist you with all your questions throughout the process.
- Don’t be afraid to write your thesis in cooperation with the company either: It is an opportunity to gain insights on how a corporation is doing in their daily business and to put yourself, your input and your ideas out there in the corporate environment. If you are always curious about other cultures and have a heart to explore, then writing a thesis in cooperation with the company in developing strategies is definitely going to be interesting and fun for you.
- Pick a topic that you’re really interested in: Write your thesis on something you’re really curious about. It truly makes it more fun and it will be much easier to feel motivated to work on it for hours and hours every day.
- Find your favorite writing spot: Choose a comfortable place where can easily concentrate on thinking and writing. You may like to play some light background music to focus and build an atmosphere for studying.
- Use the Pomodoro Technique: This method will help you increase your productivity. Slice your work in short intervals and set a timer. Focus on your task during this time, then have a short break. Repeat until the work is done.
Thank you, Yu-Hsuan and Niracha, for letting us sneak into your thesis writing process. We wish you best of luck for finishing your studies and all the best for your future!
Would you also like to write your master thesis at the Chair of International Management? Good news, the application is now open! Click here to find out more.