Marketing

In order to further increase awareness of NORMA Group’s products all over the world, boost product sales, strengthen customer relationships and thereby contribute to the Group’s growth, NORMA Group’s long-term marketing strategy is based on the following objectives:

•Building a strong NORMA Group brand image

•Focusing on digital marketing strategy

•Focusing on marketing activities

•Optimizing the brand portfolio

•Optimizing the marketing tools used

•Achieving a better understanding of market needs

In order to be able to focus on its end markets and customers as much as possible, NORMA Group tailors all of its marketing activities to address local market conditions and consumer habits in its respective regions and markets. The marketing departments of the strategic business units are responsible for implementing the various activities and synchronizing them with NORMA Group's operational goals.

Marketing focus in 2023

The main marketing activities in fiscal year 2023 included the following:

•Development of the future global brand strategy and brand architecture

•Further development of the Digital Commerce Strategy 2025. It focused on defining the new NORMA Group's web ecosystem with the aim of unifying and standardizing its digital presence and creating a trusted and simplified source of information for our existing and potential customers

•Global alignment and optimization of marketing tools and suppliers

•Further expansion, standardization and enrichment of the product information management (PIM) platform and the digital assets management (DAM) platform as the basis for further digitalization activities and reliable information for customers

•Expansion of digital communication channels with relevant, customized content for customers and introduction of awareness and lead generation campaigns

•Optimization of the product portfolio and introduction of new products in order to offer a complete portfolio that covers the needs of its customers

•Development of specific marketing initiatives aimed at new business areas and markets with high potential

•Participate in events, trade shows and organize TechDays to strengthen the Company's relationships with its current customers and create new business opportunities

Marketing expenses in 2023

Marketing expenses amounted to a total of EUR 6.2 million in fiscal year 2023 and were thus above the level of the previous year (2022: EUR 4.8 million). In relation to sales, marketing costs amounted to around 0. 5% in the 2023 fiscal year (2022: 0.4%).