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The Hydraloop Water Recyclers International Marketing
Hydraloop H600 water recycler is a water recycling system created by Hydraloop Systems and produced by Technologies Added factory.
Hydraloop originated from Leeuwarden, the Netherlands. The price of the recycler starts from ¬3300 ($4026), excluding the shipping, preparatory work, installation, and value-added tax (Hydraloop, n.d.). The product addresses the problem of water scarcity and sewage emission. The world is facing a water crisis due to climate change and unequal distribution of resources. Only 3% of the total amount of water on Earth is not saline and can be purified for human usage (Hydraloop, n.d.). The planet is at tremendous risk of drying out, and innovative products should improve the current situation with water availability.
Hydraloop Water Recycler is one of the solutions for solving the worldwide water crisis. It saves up to 85% of the water used in the home by filtering and purifying it from washing machines, baths, and showers. The product also saves energy and decreases carbon footprint (Hydraloop, n.d.). Since 2017, it has been installed in various countries of Europe and Africa; however, in 2020, it was brought to the international market (Hydraloop, n.d.).
The business needs to satisfy specific requirements before introducing itself to the worldwide market. It is not an easy task, so it comes with a lot of preparation and a clear, result-oriented strategy. Lin and Chang (2017) argue that firm expansion into international markets typically depends on a successful international strategy (p. 79). For example, one of the metrics used to evaluate the potential of integrating into an international market is the level of interest. This can include relationships made with clients overseas, new opportunities (such as new investors), etc. On the Hydraloop website, it is said that the water recyclers are not only for personal use but also are available for utilization in corporate buildings such as hotels. Hotel companies almost always operate internationally because they are an essential part of the tourism industry; therefore, there are plenty of opportunities for Hydraloop Systems to deliver their products to different branches of the same hospitality company.
While going into the new market, the company should also thoroughly evaluate their data and analyze whether the company is bringing profit. It should have great analytics and accounting teams for determining whether the company has the potential to move forward. Before entering the worldwide market in 2020, Hydraloop introduced its products across several countries in Europe and Africa in 2017 (Hydraloop, n.d.). The company obtained some leverage, such as reputation and evidence of high net income, which was attractive for the new investors. The companys production partner is located in the Netherlands, so the management needs to think about shipping costs.
Hydraloop products are not easily transportable due to their considerable size (31.5 wide, 74 high); moreover, the products require additional installation, and the process can vary in different regions (Hydraloop, n.d.). Therefore, the company should address these concerns about whether their product will be suitable for all water systems across the globe. That is why the website requires the client to fill out the specific form describing the plant of installment (the construction site, the condition of the pipes, role of the client in the project) before ordering the product. This detailed approach to the client helps the company to analyze where their product can be popular. Moreover, the management will understand how to update their water recycler to expand its availability.
Another essential metric for evaluating the international market potential is to know the competitors. There are plenty of companies producing water recyclers who have already made their name on the worldwide arena, so it is in the interests of Hydraloop to calculate the percentage of their deals made against the competitors. However, Hydraloop has the advantage over other water recycling system companies. Consumer Technology Association is one of the most significant tech events globally, where hundreds of brands and investors meet together. In 2020, Hydraloop came to CES and had won several awards, including Best of Innovations, Best Start-Up, Best Sustainable Product, and even Best of the Best award, outrunning more than 4000 tech companies (Hydraloop, n.d.). Such recognition has opened new prospects for them to establish connections with investors who can move their business internationally.
On a scale from one to five, where one is the lowest rank and five is the highest, the efficiency of the product and its potential in the worldwide market receives a rating of 4.5. Hydraloop is one of the most innovative and revolutionary eco products on the market today, having both individual, municipal and industrial clients across the globe. The products limitations lie in its scarcity because it is produced only in one factory in Europe. Therefore, countries that are located further are less accessible for marketing. However, overall, Hydraloop company does not only beats other competitors in their innovative approach or top quality; they have an ethical mission, which aims to solve the global water crisis. More consumers become concerned about climate change and its effects, which guarantees the rise in Hydraloop stocks.
References
Hydraloop. (n.d.). About Hydraloop. Web.
Lin, H. F., & Chang, K. L. (2017). Key success factors of international market development. Maritime Business Review, 2(2), 79-98. Web.
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