Taking a Creative Path to Knowledge: A Strategy for the Penetration of the Slovenian Integrative Medicine into Foreign Markets
Students of international relations at the Faculty of Social Sciences together with students from the Faculty of Law, Faculty of Pharmacy, and Faculty of Economics at the University of Ljubljana (Patricija Mučič Tovornik, Ana Nakrst Vidic, Rok Hafner, Polona Cigoj, Dimitrij Pahor, Petra Prebanda, Megi Maglica and Marko Šola) took part in the project 'Po kreativni poti do znanja' (eng. 'Taking a creative path to knowledge'). During the project, the students collaborated with prof. dr. Andreja Jaklič (mentor), assist. prof. dr. Andrej Kohont (co-mentor), and the Ars Pharmae company to prepare a strategy for the penetration of the Slovenian integrative medicine into foreign markets.
The project dealt with the problem of growth and stability of a small business in a small and mature market in the field of integrative medicine. The purpose of the project was to create the analytical support for the company’s internationalization plan, i.e. to find suitable markets and a suitable strategy for the expansion of a small Slovenian company (Ars Pharmae d.o.o.) outside Slovenia.
The result of the project assignment is the analytical basis for the company’s internationalization plan, that includes the analysis of five selected foreign markets, consumer analysis, company and product analysis, as well as industry and competitor analysis. This provides a set of data and information that will help the company make a strategic decision about the expediency and the manner of its international expansion.