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MARKETING RESEARCH AND BUSINESS IDEA FOR A VIETNAMESE RESTAURANT IN TURKU
The purpose of this thesis is to understand fast food market in Turku, Finland and create a business idea for a Vietnamese restaurant in Turku (restaurant X). The business idea will be made basing on the marketing strategy analysis, market information and research results. Those information is important to make the study valid and reliable.
Following the thesis’s purpose, the author will analyze the fast food market in Turku, Finland. Along with the theoretical background including SWOT analysis brings deeper understanding about competitors for restaurant X including strengths, weaknesses, opportunities and threats; marketing strategy segmentation, targeting and positioning will help the author identify potential customer and the position for the restaurant in the market. Marketing mix 4P’s will be keeping an eye on and applied to make business idea for restaurant X about four elements product, price, place and promotion.
In the empirical part, all the data will be synthesized from reliable sources and books. The market information will be aggregated not only from the website and online articles, but also from the author’s observation. Secondly, SWOT analysis and Marketing Mix will then be analyzed thoroughly to identify the necessary internal and external elements that influence the business idea. Last but not least, the survey and the author’s observation will be conducted to bring more accurate information to make business idea for restaurant X. After the survey is done, the result will be collected and analyzed to find out important and necessary information and numbers to make business idea. Along with it the author will give some supposal problems which is common with start-up company and solutions for them.