Target market analysis of the Finnish market : case company Bayma
Ciruela Alfaro, Antonio (2023)
2023
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2023060116947
https://urn.fi/URN:NBN:fi:amk-2023060116947
Tiivistelmä
The aim of this thesis is to conduct a study of the Finnish target market, which will help the company Bayma to see if there will be future market opportunities for the company in Finland. This thesis focuses on one of the case company's products, which is a respiratory cream, also called Bluecream respiratory cream.
During the process of writing the thesis, both qualitative and quantitative research methods are used. A deductive research approach is used, as the study aims to start from the general theory and end up with a viable solution for the company. Both primary and secondary sources are used in this research. Primary data was collected through interviews and a survey of Flamingo United FC football players who tested the Bayma respiratory cream in Finland and shared their user experience. The research is conducted using the following situational analysis tools: SWOT, PEST, and Porter's five forces. In addition, interviews are conducted with both the company's CEO, Jorge Herrera, and the players of Flamingo United FC. In addition, a survey is conducted with the players of Flamingo United FC.
From the data obtained, the author of the thesis draws some conclusions. Bayma's respiratory cream is a product that has one main competitor in Finland. According to the competition analysis, the main competitor is VICKS VapoRub, which is a product sold in pharmacies. The main difference with Bayma's respiratory cream is that it is made with chemical products.
The main conclusions are that the respondents highly value the composition of the cream, with 100% natural elements that support sustainability. Finland is a country that is very environmentally conscious. Respondents consider the product as a very interesting resource to get a plus in their training and matches, but they consider the price as a key element that would determine their purchase decision.
During the process of writing the thesis, both qualitative and quantitative research methods are used. A deductive research approach is used, as the study aims to start from the general theory and end up with a viable solution for the company. Both primary and secondary sources are used in this research. Primary data was collected through interviews and a survey of Flamingo United FC football players who tested the Bayma respiratory cream in Finland and shared their user experience. The research is conducted using the following situational analysis tools: SWOT, PEST, and Porter's five forces. In addition, interviews are conducted with both the company's CEO, Jorge Herrera, and the players of Flamingo United FC. In addition, a survey is conducted with the players of Flamingo United FC.
From the data obtained, the author of the thesis draws some conclusions. Bayma's respiratory cream is a product that has one main competitor in Finland. According to the competition analysis, the main competitor is VICKS VapoRub, which is a product sold in pharmacies. The main difference with Bayma's respiratory cream is that it is made with chemical products.
The main conclusions are that the respondents highly value the composition of the cream, with 100% natural elements that support sustainability. Finland is a country that is very environmentally conscious. Respondents consider the product as a very interesting resource to get a plus in their training and matches, but they consider the price as a key element that would determine their purchase decision.