Market Research of the Finnish Nuts and Seeds Market
Kenyeres, Árpád; Markkanen, Teemu Eemeli (2020)
2020
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-202004265925
https://urn.fi/URN:NBN:fi:amk-202004265925
Tiivistelmä
Mogyi Kft is a nuts and seeds producer based in Hungary with operations in 27 countries. Mogyi Kft covers a wide variety of products in the segment. Mogyi wants to understand the Finnish nuts and seeds market to prepare for potential market entry to the Finnish market.
The researchers were tasked with analyzing the Finnish nuts and seeds market. The purpose of the research was to gather information about the market to prepare Mogyi for possible market entry. The research areas were market study, including trade structure, PESTEL analysis, and competitor study as well as a customer study. This thesis aimed to answer the following research questions: What is the macro environment like on the Finnish market? How is the grocery retail industry structured? What competitors exist in the market? How do customers behave regarding nuts and seeds products, more specifically concerning buying habits, packaging, and taste?
The research was done by gathering both primary and secondary data, which were acquired through online sources, books, a focus group interview, a survey, and sampling. The mentioned methods were efficient and provided the researchers with useful information.
The overall economy, as well as the nuts and seeds sector, are both growing in Finland. The competition within the industry is quite balanced, with no clear market leader. The market is dominated by two major retail chains, K-Group and S-Group, which gives each one considerable bargaining power, making the entrance more difficult.
Based on customer research, Mogyi products were well-received by the research participants. Mogyi’s Caramoon, a caramel covered popped popcorn product, would be a unique product within Finland and got overwhelmingly positive reviews from both the focus group interview and the general tasting. According to the survey results, 92% of the respondents purchase snacks at least once a month. 51,2% purchase nuts and seeds at least once a month. These respondents most commonly consumed the nuts and seeds as a snack between meals, as a part of a meal or while watching movies or television.
The researchers were tasked with analyzing the Finnish nuts and seeds market. The purpose of the research was to gather information about the market to prepare Mogyi for possible market entry. The research areas were market study, including trade structure, PESTEL analysis, and competitor study as well as a customer study. This thesis aimed to answer the following research questions: What is the macro environment like on the Finnish market? How is the grocery retail industry structured? What competitors exist in the market? How do customers behave regarding nuts and seeds products, more specifically concerning buying habits, packaging, and taste?
The research was done by gathering both primary and secondary data, which were acquired through online sources, books, a focus group interview, a survey, and sampling. The mentioned methods were efficient and provided the researchers with useful information.
The overall economy, as well as the nuts and seeds sector, are both growing in Finland. The competition within the industry is quite balanced, with no clear market leader. The market is dominated by two major retail chains, K-Group and S-Group, which gives each one considerable bargaining power, making the entrance more difficult.
Based on customer research, Mogyi products were well-received by the research participants. Mogyi’s Caramoon, a caramel covered popped popcorn product, would be a unique product within Finland and got overwhelmingly positive reviews from both the focus group interview and the general tasting. According to the survey results, 92% of the respondents purchase snacks at least once a month. 51,2% purchase nuts and seeds at least once a month. These respondents most commonly consumed the nuts and seeds as a snack between meals, as a part of a meal or while watching movies or television.