Factors influencing Finnish consumers' adoption of Liquid I.V.'s hydration multiplier : a market analysis and entry strategy evaluation
Kähkönen, Teea (2023)
2023
All rights reserved. This publication is copyrighted. You may download, display and print it for Your own personal use. Commercial use is prohibited.
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-202305047571
https://urn.fi/URN:NBN:fi:amk-202305047571
Tiivistelmä
The objective of this thesis was to explore the potential for Liquid I.V., an American electrolyte drink product, to successfully enter the Finnish market. With a focus on the company’s unique Cellular Transport Technology (CTT) and eco-friendly, plant-based ingredients, this thesis aimed to analyse the current market, identify challenges and opportunities, and develop a comprehensive market entry strategy. Collaboration with Liquid I.V. was not a part of the study.
A situational analysis, SWOT analysis, and Porter’s Five Forces framework was used to provide insights into the Finnish electrolyte drinks market. The study revealed an increasing interest in sustainable lifestyle choices, health consciousness trends, and eco-friendly products among Finnish consumers, which offers promising opportunities for Liquid I.V. However, challenges such as strict regulations, lack of brand awareness, and a strong competition from local players were also identified.
The recommended market entry strategy was developed, focusing on differentiation, targeting active and health-conscious individuals, investing in marketing and brand awareness, ensuring compliance with Finnish regulations, adapting products to local tastes, and monitoring the competitive market. This strategic plan aims to establish Liquid I.V. as a sustainable and high-performance hydration solution for health-conscious and active consumers in Finland.
In conclusion, the thesis presents a detailed analysis and strategic plan for Liquid I.V.’s market entry into Finland. By following the recommended market entry strategy, Liquid I.V. has the potential to achieve a strong presence in the Finnish electrolyte drinks market, while also capitalizing on the growing demand for sustainable, eco-friendly, and health-promoting products. Monitoring and adapting the strategy will be crucial for ensuring long-term success and competitive-ness in the Finnish electrolyte drinks market.
A situational analysis, SWOT analysis, and Porter’s Five Forces framework was used to provide insights into the Finnish electrolyte drinks market. The study revealed an increasing interest in sustainable lifestyle choices, health consciousness trends, and eco-friendly products among Finnish consumers, which offers promising opportunities for Liquid I.V. However, challenges such as strict regulations, lack of brand awareness, and a strong competition from local players were also identified.
The recommended market entry strategy was developed, focusing on differentiation, targeting active and health-conscious individuals, investing in marketing and brand awareness, ensuring compliance with Finnish regulations, adapting products to local tastes, and monitoring the competitive market. This strategic plan aims to establish Liquid I.V. as a sustainable and high-performance hydration solution for health-conscious and active consumers in Finland.
In conclusion, the thesis presents a detailed analysis and strategic plan for Liquid I.V.’s market entry into Finland. By following the recommended market entry strategy, Liquid I.V. has the potential to achieve a strong presence in the Finnish electrolyte drinks market, while also capitalizing on the growing demand for sustainable, eco-friendly, and health-promoting products. Monitoring and adapting the strategy will be crucial for ensuring long-term success and competitive-ness in the Finnish electrolyte drinks market.