Researching new foreign markets – Finnvoda

Our project team started working at the beginning of 2021 with Esa Aalto from Finnvoda. Finnvoda is a company that sells reverse osmosis systems for water purification. Now you might wonder what even is reverse osmosis? Well, it is a special kind of method where contaminated water is forced with pressure through a partially permeable membrane for cleaning the water from bacteria, salt, calcium, etc. The clean water also tastes better. Our team’s first mission was to find competitors from Germany, Austria, and Spain. Before starting we had to spend some time to actually understand the product system and what kind of products or companies are seen as competition.

Finnvoda’s reverse osmosis systems

After getting to know the product, our next step was to do competitor and market analysis of the target countries. We split the group of seven into three smaller groups because it was easier to focus on one specific country. Luckily, we had also exchange students from Spain and Germany to help us understand the foreign markets better and the language in some cases. The rest of us had to rely a lot on google translate when researching the internet since the websites were most of the time in Spanish or German. At the beginning finding competitors from the target countries did sound easy, but soon we noticed that these products were hard to come by, so it was challenging to find actual competitors. With teamwork, we managed to reach our goal. Teamwork is a huge part of the project studies and since we have been studying online since the beginning of the project, we have had team-building activities along the way to help us work better together.

Our next goal in the project is to start looking for potential partners. They could be companies from the same markets or from an industry that is related to water purification systems. After that, our plan is to contact them and analyze what kind of answers we get. We will see if that is going to be easier or even harder!

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