Question 1 Velocevent is planning on expanding its sales into Europe in 2017. It

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Question 1 Velocevent is planning on expanding its sales into Europe in 2017. It currently has customers in the us and in Japan (the site has been translated into Japanese). ors (free for small events and about The company strategy is to enter as one of the lower cost competit $1,000 for larger events). There are more well- known companies that offer higher price ($2,000- coming in at much lower prices. more features but at a 4,000). As a software-as-a-service, there is always the risk of low-cost copy-cats 1) at would be your recommendations for the top 3 countries to focus on for its market entry? What marketing strategies would you recommend in those target countries How would you recommend Velocevent address EU data privacy concerns? What strategies would you recommend to deal expected to raise rates, which would strengthen the US dollar and make US products more expensive in Europe.) What strategies should Velocevent adopt to remain competitive in this SAAS niche? Wh 2) 3) 4) with exchange rate changes? (Note the Fed is 5)

Explanation / Answer

1) To enter the european market velocevent should focus on the countries which have a culture of organising events and celebrating festivals or should target the business hubs in europe which organise business events and meetings. Three top countires to target among the european market are as follow

a) FRANKFURT : This beautiful place in germany global hub for culture, commerce, education, tourism and transportation. It has thousands of venues to organise events. It is the favourate hub in germany to organise cultural and business events.

b) MILAN : The heart of the Italy. It is the fashion capital of the world. The country has developed its infrastructure which has been attractive for doing business and for event organising culture.

c) ISTANBUL : This is one of the most populous city in the europe and connects 2 continents. It has high ranked best international event centers and convientional center for business meetings it has first class meeting centers.

2) The marketing strategies company can target on are as follow:

a) sponsoring events is the best way to target the potential market and the consumers of the product.

b) organising events and shows to promote the company and its products

c) contacting with various MNCs which have there offices in USA and Japan and are also working in germany and conviencing them t organise events only with velocevent exclusively.

3) European union have strict legislative laws for the data protection of the citizen. The personal data collected by company to use is an issue of high privacy and security. Velocevent has to ensure that it have an highly protective data center from where the users data cannot be stole or misused.The velocevent has to agree on all the terms and work according with all the privacy concerns by european union legislation. If they failed to do so they will be chareged with heavy fines and penalty.

4) The exchange rate cannot be controlled by the company. But the company can avoid the problem of exchange rate by fixing the rates at the same currency which is used in the country the company is doing business in and providing them discounts and coupons if they rates are charged higher due to exchange rates.

5) SAAS is a niche market requires less captial and can work from a small place by setting an small office and catering the whole world with the service just by sitting back at the office. This market is very competetive due to the fast evolving technology and development in the software world. Since there is nothing proprietary in these software business. you can only win this market by providing quality service at a cheaper rate.

a) to beat competiton it should provide discounts at the initial phrase.

b) it should provide some of its services free to customer and charge for add on services.

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