Market research and marketing plan to enter the United Kingdom food supplements market : case: Danapha
Hoang, Tien (2016)
Hoang, Tien
Laurea-ammattikorkeakoulu
2016
All rights reserved
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2016060912617
https://urn.fi/URN:NBN:fi:amk-2016060912617
Tiivistelmä
Due to the stresses of modern life and the discussion of these factors in the media and scientific articles, an increasing number of people have become more and more concerned about personal health issues. This has contributed to a rapid expansion in the market for food supplements in the last few years and this large market of potential consumers has attracted a lot of interest from manufacturers all over the world. Danapha, a medicine producer in Vietnam, has been particularly interested in exporting products to the United Kingdom (UK).
The purpose of this thesis project was to conduct market research into the sale of dietary supplements in the UK and based on the result of the study create an introductory marketing plan for the case company. Following the expectations of the company, this preliminary marketing plan will concentrate mostly on the choice of market entry and some recommendation for the company’s mainstay products of vitamins supplements and botanical extracts.
This thesis report consists of three different parts: a theoretical section, empirical study and the implementation of a marketing plan. The first part is utilized to present and synthesize the general knowledge that will be employed in this thesis. The theoretical section includes in-formation about the formulation of a typical business plan and the process of conducting a marketing research. Subsequently, the process of conducting market research and the actual report into the UK’s food supplement market will be introduced, obtained by using qualitative research methods. Finally, a marketing strategy plan is built to help the company entering the market with the minimum risks and achieve business goals
This thesis can be the foundation for further studies related to the food supplement market in the UK. The marketing plan is constructed accordingly to the intention of the case company about: choice of the foreign market, strategies in the new market, budgets, choices of products and the results of market research study.
The purpose of this thesis project was to conduct market research into the sale of dietary supplements in the UK and based on the result of the study create an introductory marketing plan for the case company. Following the expectations of the company, this preliminary marketing plan will concentrate mostly on the choice of market entry and some recommendation for the company’s mainstay products of vitamins supplements and botanical extracts.
This thesis report consists of three different parts: a theoretical section, empirical study and the implementation of a marketing plan. The first part is utilized to present and synthesize the general knowledge that will be employed in this thesis. The theoretical section includes in-formation about the formulation of a typical business plan and the process of conducting a marketing research. Subsequently, the process of conducting market research and the actual report into the UK’s food supplement market will be introduced, obtained by using qualitative research methods. Finally, a marketing strategy plan is built to help the company entering the market with the minimum risks and achieve business goals
This thesis can be the foundation for further studies related to the food supplement market in the UK. The marketing plan is constructed accordingly to the intention of the case company about: choice of the foreign market, strategies in the new market, budgets, choices of products and the results of market research study.