VCW 4 Klimt Arthaus: European Customer Acquisition
Identifying the optimal European country for Klimt Arthaus to acquire customers.
Which European country should Klimt target to acquire customers?
This project addresses the challenge of identifying the best European country for Klimt Arthaus to target for customer acquisition, utilizing the Value Creation Wheel (VCW) framework.
Overview:
Klimt Arthaus, a real estate company, aimed to expand its customer base by targeting a new European market. The team employed the VCW framework to identify Germany, specifically Munich, as the optimal target market. The process involved analyzing potential markets, identifying key criteria, and developing a tailored market entry strategy.
Application and Process:
The process began with a diagnostic phase, analyzing Klimt Arthaus's strengths, weaknesses, and the European real estate market. The core challenge was defined: identifying the best European country for customer acquisition. The team then generated ideas and filters through primary and secondary research. The POCR method was used to refine these ideas and filters. Through VCF and MCDA, the team narrowed down potential markets, ultimately selecting Munich, Germany. The team then analyzed the target market and developed a market entry strategy, including a strategic partnership approach and a tailored marketing mix.
Key Takeaways:
Munich, Germany: Identified as the optimal target market due to its high GDP per capita, affluent population, and strong interest in international real estate.
Strategic Partnership: A strategic partnership with a local real estate agency in Munich is the recommended market entry strategy.
Targeted Marketing: A tailored marketing mix, including online and offline channels, is crucial for reaching the target audience.
Open Art House Events: Hosting open art house events in Munich, showcasing Portuguese culture and properties, is a key component of the marketing strategy.
Customer Survey: Conducting a customer survey in Munich provided valuable insights into the target audience's preferences and motivations.
Conclusion:
The VCW framework effectively guided Klimt Arthaus in identifying the optimal European market for customer acquisition, demonstrating the methodology's effectiveness in strategic market entry decisions.