Attracting Scandinavian Investments to North America - A Study and Marketing Proposal
KAASALAINEN, TIA (2007)
Tässä tietueessa ei ole kokotekstiä saatavilla Treposta, ainoastaan metadata.
KAASALAINEN, TIA
2007
Kansantaloustiede - Economics
Kauppa- ja hallintotieteiden tiedekunta - Faculty of Economics and Administration
Hyväksymispäivämäärä
2007-05-03Tiivistelmä
The purpose of the study, commissioned by the Canadian city of St. Catharines, is to define how to develop the city’s foreign inward investment promotion actions. St. Catharines has a strategically good location in Ontario, only minutes away from the U.S. border. The proximity of the vast North American market is a clear advantage and the city is using this benefit in its marketing plans, attracting European companies to relocate in St. Catharines. A cost competitive business environment and a pleasant and safe living environment associates St. Catharines with Nordic and Baltic countries.
After examining the Baltic and Nordic countries Sweden and Denmark turned out to be the most potential areas for future studies. These two countries are highly export oriented. Because of the small size of domestic markets, companies start to internationalize relatively early. Consequently the Scandinavia is a potential business partner for the city of St. Catharines, which can draw attention as a gateway to North America. Automotives, life sciences, information technologies and environmental technologies are important in Sweden and in Denmark, the same being true also in Ontario, making the areas compatible partners.
Inward investment promotion is a complex task, requiring deep knowledge of the target group. The marketing message has to be customized for the specific audience to be able to reach wanted outcomes. Examining St. Catharines with the Scandinavian point of view led into several action proposals. St. Catharines is located between two major markets, and the city promotes itself as a gateway to North America. St. Catharines is a relatively unknown place to Europeans, and an efficient inward investment marketing plan is needed to raise the awareness about the city and the services it can provide.
The most potential Swedish or Danish firms for St. Catharines are the small and medium-sized companies, who appreciate the help and the support given by the city. Export group projects, where companies join forces and hire a mutual export manager, have drawn several Finnish businesses to the area. Small companies find the export groups useful, because of the efficient use of their limited financial resources. The better the city is known, the more it can attract newcomers. Associating St. Catharines with surrounding big cities in Canada can raise interest among desirable target groups. A list of Danish and Swedish organizations, such as Embassies and Export Associations, provides right contacts for future promotion. In addition to regional marketing and other traditional means, the export group method which has already been productive in St. Catharines, is encouraged to be used to attract companies.
Keywords: Internationalization, export groups, investment promotion, economic geographies
After examining the Baltic and Nordic countries Sweden and Denmark turned out to be the most potential areas for future studies. These two countries are highly export oriented. Because of the small size of domestic markets, companies start to internationalize relatively early. Consequently the Scandinavia is a potential business partner for the city of St. Catharines, which can draw attention as a gateway to North America. Automotives, life sciences, information technologies and environmental technologies are important in Sweden and in Denmark, the same being true also in Ontario, making the areas compatible partners.
Inward investment promotion is a complex task, requiring deep knowledge of the target group. The marketing message has to be customized for the specific audience to be able to reach wanted outcomes. Examining St. Catharines with the Scandinavian point of view led into several action proposals. St. Catharines is located between two major markets, and the city promotes itself as a gateway to North America. St. Catharines is a relatively unknown place to Europeans, and an efficient inward investment marketing plan is needed to raise the awareness about the city and the services it can provide.
The most potential Swedish or Danish firms for St. Catharines are the small and medium-sized companies, who appreciate the help and the support given by the city. Export group projects, where companies join forces and hire a mutual export manager, have drawn several Finnish businesses to the area. Small companies find the export groups useful, because of the efficient use of their limited financial resources. The better the city is known, the more it can attract newcomers. Associating St. Catharines with surrounding big cities in Canada can raise interest among desirable target groups. A list of Danish and Swedish organizations, such as Embassies and Export Associations, provides right contacts for future promotion. In addition to regional marketing and other traditional means, the export group method which has already been productive in St. Catharines, is encouraged to be used to attract companies.
Keywords: Internationalization, export groups, investment promotion, economic geographies