Developing a marketing strategy by analysing target markets in Scandinavia, Case Ovitor Oy
Pesonen, Petrus (2020)
2020
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2020121528242
https://urn.fi/URN:NBN:fi:amk-2020121528242
Tiivistelmä
The main objective of this study was to conduct a market analysis on door and gate automation industry in Sweden and Norway and to provide a marketing strategy for Ovitor Oy based on the findings of the market analysis. Ovitor Oy has a considerable amount of unstructured customer and competitor information in its customer resource management system, such as customer surveys, competitor product’ prices, and customer’ sales quantities for certain products, which are all used for conducting the research.
Quantitative methods were used in collecting and evaluating the customer and competitor data, whereas qualitative methods were used in examining and assessing the customer surveys. The theoretical framework was used for studying and analysing the macro-environmental factors, the attractiveness of the door and gate automation industry, and the markets and competitors, as well as for conducting the marketing strategy. Customer satisfaction results were adjusted to an NPS index as a benchmark for future surveys.
The study showed that both Sweden and Norway are attractive markets for a door and gate automation manufacturer working in an EU country. Sweden is a significantly competed market area compared to Norway, and it has a market sales potential of almost 19,5 million euros. In contrast, the sales potential of Norway is 5,6 million euros. The most attractive segments for Ovitor Oy are segment B and segment C as the research found Ovitor Oy to have a competitive advantage in these segments.
The study concluded that Ovitor Oy should target their marketing strategy at the most attractive segments, and the marketing plan should be built according to an account-based marketing structure. The effectiveness of the marketing strategy should be monitored through sales statistics and NPS results.
Quantitative methods were used in collecting and evaluating the customer and competitor data, whereas qualitative methods were used in examining and assessing the customer surveys. The theoretical framework was used for studying and analysing the macro-environmental factors, the attractiveness of the door and gate automation industry, and the markets and competitors, as well as for conducting the marketing strategy. Customer satisfaction results were adjusted to an NPS index as a benchmark for future surveys.
The study showed that both Sweden and Norway are attractive markets for a door and gate automation manufacturer working in an EU country. Sweden is a significantly competed market area compared to Norway, and it has a market sales potential of almost 19,5 million euros. In contrast, the sales potential of Norway is 5,6 million euros. The most attractive segments for Ovitor Oy are segment B and segment C as the research found Ovitor Oy to have a competitive advantage in these segments.
The study concluded that Ovitor Oy should target their marketing strategy at the most attractive segments, and the marketing plan should be built according to an account-based marketing structure. The effectiveness of the marketing strategy should be monitored through sales statistics and NPS results.