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Monday, 06 April 2020

Europe receives (too) little attention

Sunday, 30 November 2014 | Posted by: Sonja Specks, European Coatings Journal

Entering new markets, increasing sales, maximizing profits. That’s how expansions work. Nowadays everything revolves around how to catch some ground in Asian markets or generate profits in South America. But what about Europe?

A common answer is to keep the business running. But is this sufficient?
Recently, I had a chat with Dr Albert Rössler, Adlerwerk Lackfabrik, and I liked his statement on the business in Europe, which to him is more than just making existing customers happy with application related solutions. The European market became strong based on innovations. More than just problem solving issues. Smart ideas, which had been adopted by the market. New products that had been introduced to the markets based on cooperation in Germany, Austria, France and other countries. 

What’s the focus in future?

An innovation’s disadvantage is that success is not guaranteed in the phase of research and development. Financial success in particular. The price war is easier to predict as well as business expansions. Innovation cost money, they are time consuming and require good staff.  And here danger lurks: Europe is rich enough, one can easily earn money by adjusting the price upward instead with new developments. And making money in financially weaker regions is possible as well. You just take products from the low quality shelf and sell them with some profit.

The war on prices kills innovation

Dear companies, be aware that this comfortable bed will not become too convenient. When we forget about our strength regarding innovations or abandon our efforts for it, the strong market position will rapidly experience a change. Because players in other regions know as well how to earn money – even with own innovations.

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