Pecuniary stability is arduous to maintain in today’s perpetually accelerating economy, and a company’s long-term survival necessitates sustained business growth. With organizations suffering the financial consequences of COVID-19, such realization is particularly challenging. Nevertheless, the apposite application of business growth and market entry strategies can serve as a precautionary and proactive measure in recurring times of crisis. The prospect behind this notion is what initially induced a globally recognized automotive supplier to pursue lateral diversification into a market hitherto not conversant to the company, the realization of which this thesis aims to support through the execution of a detailed market analysis.
This thesis conducts thorough internal corporate and external market evaluations, from which strategies feasible for lateral diversification can be derived. While an internally performed SWOT analysis provides a magnified insight into the company’s core competencies and potential in the pursued market, the executed market analysis reveals the delineated target market size, its development, established incumbents, and impending market entry barriers. Based on these findings, a morphological box is constructed to serve as a selection instrument and produce multiple solution alternatives. While one provided solution offers a judicious approach based on the demarcation of this thesis, the other proposes an option more likely to meet the organizational and financial objectives of the reference company but is more byzantine in its realization. The comparison of the presented propositions ultimately suggests a viable market entry strategy, which denotes the conclusive recommendation for the reference company’s further course of action.