Summary. /3 The purpose of this report was to observe Vestergaard Company A/S s possibilities of

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1 entering the Turkish market. /3 The purpose of this report was to observe Vestergaard Company A/S s possibilities of Summary Vestergaard Company A/S Belinda S. Jensen, Gamze Celik, Katrine Junker og Kristine Justesen 1 rather crucial, regarding the choice of DHMI s choice of ground service operator. Among other points, this is one of the differences between the two companies which are technology. Regarding CSR we found that Vestergaard Company A/S would gain from developing a certain certifications and furthermore participates in a cooperation to promote green much more rock-solid CSR strategy, as their closest competitor JBT AeroTech, has gained reliable, yet more efficient deicers than any other similar products on the market. mention that Vestergaard Company A/S s products has a reputation of being the most therefore we consider the Turkish market rather favorable. In this matter it is important to Furthermore the competitive situation on the Turkish market is rather narrow, and with minus degrees down to 50 Celsius. Vestergaard Company A/S develops, as a huge part of the country often has cold winters We found that the environmentally factors of Turkey, was favorable for the products that report that reflects high inductivity within our study group, as well as in the working process By using relevant theories from our 1 semester curriculum, we have managed to form a of this report. opinion high validity as well as high reliability. Research of this report included desk research based on secondary data of in our Furthermore we were asked to analyze the situation of the competition regarding the niche market that Vestergaard Company A/S operates in. BHM115A

2 Patrick, Thomas, jesoer, Philip og Elisaveta Executive Summary / The purpose of this project was to get Vestergaard Company A S to enter the Turkish market, with their de-icing machines. The methodological objective of this project is to analyze the Turkish market and need for Vestergaards products in the country. We have focused the gathering of information to secondary data, using models from textbooks and relevant Internet sites. / The main points we have found in our analysis indicate that Turkey is a large and rising market with great potential for Vestergaard to penetrate. This is because Turkey has come strong out of the financial crisis, and in reason years their business and culture have started to resample the western culture. It is important to Vestergaard to create a network in Turkey before they establish themselves in Turkey. In addition, we found out that their biggest competitor is JBT. They already have a strong position and market share on the Turkish market. Economically JBT is larger than Vestergaard, making them an even bigger competitor. Vestergaard, however, came well out of financial crisis and is greatly improving their revenue, in contrast to JBT, which does not yet have hit the same level as before the financial crisis. We have found that Vestergaard and JBT haw two products which are very similar and which are the ones they will compete against each other with. It is important for Vestergaard, to enter the Turkish market, as both the economy and business culture is moving fast in Turkey, so it will be a financially attractive market for Vestergaard to enter. However, K. it will be very difficult for them. There are already many other companies in this market who are strong, especially JBT are big on the Turkish market, and it is they who Vestergaard should try to take from. amarketshare Vestergaard has done well to get out of the financial crisis, so they have a good opportunity to invest a lot of money into getting a share of the Turkish market and to invest in new products for the future. To be able to compete with JBT, it is important that they benchmark themself against them with their strong company values, so they can find out where they stand against their competition. We see Vestergaard as a strong and well-regarded company who also does a lot for their employees and to society by thinking about the environment, which is very positive in their line of wàrk. We believe that Vestergaard must penetrate the Turkish market, but they have work hard for it, since there are other large competitors on the market already.

3 Executive summary Vestergaard A/S er en strk virksomhed indenfor de-icing maskiner, og levere kvalitet. Vestergaard A/S opererer i mange lande, og skal derfor fortstte med at udvide deres marked. Vi bar fundet frem til at det tyrkiske marked er et stort potentiale. Geografisk er Tyrkiet et stort land, og vejrforholdene gør det muligt for Vestergaard at etablere sig p det tyrkiske marked. M - Efter flere undersøgelser og analyser, bar vi fundet frem til at Vestergaard vil c kunne etablere sig p det tyrkiske marked uden store fremtidige probiemer. Dog er der en spiller Aerotech. p markedet, som der skal tages hensyn til, hvilket er JBT De forskellige parametre gør det muligt for Vestergaard at kunne udføre denne opgave. Vi kan dermed konkludere at Vestergaard skal se det tyrkiske marked, som deres nye opgave, som de skal arbejde med. Ud fra de undersøgelser og analyser der er blevet udført, kan vi konkludere at Vestergaard vii kunne f succes ved at indtrde det tyrkiske marked. Som udgangspunkt er der sat fokus p den østlige del, med nogle udvalgte lufthavne. Senere i fremtiden kan der vre mulighed for at udvide markedet. flz

4 Lata, with emphasis on quantitative data. based on. The data that have been used is a triangulation between quantitative and qualitative considered. Positivism and deductive approach have been the key factors, which the project is r Turkish market. Throughout the project, different methods and researches have been,y) The purpose of this project is to enlighten the possibility for Vestergaard A/S to enter the Executive Summary 1 When entering the Turkish market, there are some external factors that have to be which Vestergaard A/S have to keep in mind, when doing business with Turkey. considered; especially the factor that Turkey is not a member of the European union, which union member and a non-european member. Furthermore Turkey is the 16. largest economy worldwide, despite of the financial crisis. Also Danish export to Turkey has been growing with mentioned, there are significant differences in terms of culture between the two countries, 5 % since 009 and it is expected to increase even more. In addition to the above can cause problems according regulations and laws during business between a European internal value chain is far more effective and innovative, compared to Vestergaard A/S. Social Responsibility (CSRJ. Further, when it comes to both chain, the main Both Vestergaard A/S and JBT Corporation have huge focus on the global trend, Corporate Since JBT being market leader globally, it is assumed that their external supply chain and value for their customers is placed in the service after the purchase of a Deicing machine. triangulation between the two business models; expanded and integrated, is used, since a firm not only can rely on one single business model. The expanded business model is the main concept in Vestergaard A/S. Still a certain Comparing the two companies JBT and Vestergaard A/S it has to be considered, that JBT is a much larger company based on their revenue. their margin, only on a satisfaction level. Vestergaard A/S s margin has been remarkable been in growth during the period 009 and 010, however compared with Dansk Industri is had an impressive increase in their return on investment and their margin in 011. degrading throughout 009 and 010. But it is worth mentioning that Vestergaard A/S has The major findings based on the data, viewed from an economic perspective are that JBT have Martin Duedahi, Louise Iversen & Mette Raymond [Skriv tekstj Vestergaard A/S Christina Franksdatter, Ulrik Mouridsen, BHM11Sa

5 Vestergaard A/S Christina Franksdatter, Ulrik Mouridsen, BHM11Sa Martin Duedahi, Louise Iversen & Mette Raymond [Skriv tekst] If Vestergaard wants to enter the Turkish market, they could try to differ from JBT by competing on others parameters like time and cost. This means that the triangulation, between the expanded and the integrated business model must be more equally spread. This would result in a greater control throughout the various parts in both the supply chain and the value chain. To sum it all up it have been concluded that there is a need for deicing in Turkey in several geographic areas. Turkey is a market, which Vestergaard A/S can use to match and try to challenge JBT. Still Vestergaard A/S has to keep in mind to enter the market as a market follower rather than to try to be the market leader.