This thesis presents the results of the research into and the development of an international growth strategy for Revolt, a B2B provider of a product-service system for EV charging.
Revolt provides charging points for electric vehicles through a subscription model. For a fixed monthly fee, customers receive a charge point, the installation, maintenance and accompanying services.
The EV market is developing rapidly and the rate of adoption of EVs is growing. Companies feel the need to provide EV charging to their employees, customers and visitors. However, they often do not have knowledge about the charging infrastructure, nor do they have the budget to invest in charging stations.
For these problems, Revolt provides a solution. By providing an all-in-one service, from technical feasibility to maintenance and backoffice systems, the customer does not need to worry about these and they can rely on Revolt’s expertise.
The Netherlands is a forefunner in the field of EVs and the charging infrastructure. Revolt has found product-market fit here, but in order to reach scale and network effects they need to expand beyond the borders of the Dutch market. For that reason, the co-founders have asked the author of this thesis to research the European market and develop an international growth strategy for Revolt.
During the research, the author was part of Revolt’s team. This allowed the author to easily get in touch with all employees, access internal documentation and experience the company culture. By integrating in the team, the author was able to gather knowledge and validate ideas quickly.
By means of a literature review, internal and external analysis, quanitative market research and qualitative market validation the author has created a market segmentation and ranking. By using design methodologies and principles, the author has developed a market entry playbook, which serves as a manual for foreign market entry. This thesis presents the results of this research.
The literature review presents an overview of traditional market entry strategy literature, supplemented with literature on resource-based analysis, effectuation logic and psychic distance. Based on the results of this review the author has developed a process for the international market selection and entry.
Based on internal and external analysis the author developed a market data dashboard which analyses and ranks markets on quanitiative factors. The results of this analyisis led to the segmentation of potential markets in mature, high-growth and easy-to-enter markets. After a resource-based analysis of the fifteen most promising markets, the author has done a micro-level research on Austria, Belgium, Germany, Italy and Poland. This micro-level research included e.g. charging behaviour, legislation and expected needed charge points per region.
Based on the micro-level analysis and interviews with experts in Germany and Italy, the author recommends Germany as the first market to enter, more specifically the state North Rhine-Westphalia.
To assist Revolt in the foreign market entry the author has developed a market entry playbook. This playbook covers the market research, entry and validation and provides decision-making guidelines for each phase. The author ends with general and internationalisation-specific recommendations.