Market research for new product development : case Emfit Ltd

Abstract

This Bachelor thesis was created for the purpose of giving Emit Ltd a better understanding of entering the US market with their new product idea. Emfit Ltd is a Finnish technology company that designs, manufactures, and distributes a wide range of sensor related products. This research is intended to give them insight to the road traffic data collection equipment market in the US. Do to the fact Emfit Ltd has little knowledge of the industry and market place, I was asked to perform a market study. The main focus of the study will detail the use of piezoelectric road sensors used in the United States, which is a similar product that Emit Ltd is in consideration of manufacturing. A majority of the research collected was by secondary research; it was collected through a variety of internet sites, online publications, US government statistics, and previously published surveys of the US Department of Transportation. Other research was conducted by questionnaire forms and phone calls to those whom closely work with these types of devices. This research can be used by Emfit Ltd to gain an understanding of future customers and their needs, competing product, product usage, product manufacturers, vendors, and distributors, product specifications needed to enter the US market, and more.