IP6173-3: International Business Management

Presented by:
Divya Nageli
Karamvir Singh
Srishti Khanna
Rajwinder
Pushpdeep
 P – Political Situation
• Oldest assembly democracy since 930 AD

• Became fully democracy in 2021

• Lowest tax in Europe

• Strong fiscal policy

• Benefit of EFTS
 E – Economic
• Business easy country

• High VAT but the less top tax

• Low unemployment rate

• Very high average wage

• High purchasing power

 S – Social factors
• Islandic language

• Multilingual destination

• Famous cuisines

• Reykjavik- tourist destination

• Religion- Lutheran state church

 T – Technological facts
• Second highest information technology skills

• Top 10 among readiness in technology

• Linked through fiber optic underwater system

• 90% of the population has access to high-speed fiber-optic

• Set up Science and technology policy council

 L – Legal system
• Independent judiciary system
• Following civil law
• Three tiers of the judicial system
• Member of the European Economic Area
• Strict labour law
• Strict laws for Intellectual property
 E – Environment factors
• High connectivity through road, water, and air
• Generally cold region
• High producer of greenhouse gases
• Regularly working on Kyoto commitment
• Regularly faces many kinds of natural hazards
Market Entry Strategy

Assess the Target Market

• 39% of Iceland’s annual export
revenue and contributes about 10% to
the country’s GDP.

• Tourism-based economy

• Thriving nightlife & music festivals Assess the customer capabilities

• Experience all the seasons • Highest country Purchasing power parity

conversion factor of 138.33 LPU

• Average rate salary of $5,058

Market Entry Strategy

Product Analysis and Market Segmentation

• Retail outlet at Reyjkavik

• Outdoor city famous for Sightseeing, museums, Art

Galleries, Concerts, shopping Whale watching, etc. Distribution Strategy
• All age groups • Canada-European Free Trade
Association (EFTA)
• Gender-free sizes and extended sizes
• Warehouse - sold on our retail
• Active wear collections and nature wear clothes.  outlet
Market Entry Strategy
Communication Strategy
• Pull marketing communication strategy
• Active on social media
• Brand awareness - social websites like
Instagram, Facebook, YouTube, etc.
• Website: Roots
Pricing Strategy
• Existing clothing brands - Hildur
Yeoman, 66* North, Inklaw, Usee
Studio, etc.
• Predatory pricing strategy
• Online promotions and price
balancing
Conclusion:
Thank you

Have a good day!