Firm competitiveness and customer preferences in Finnish consumer sauna heater market
Laivonen, Panu (2023)
2023
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2023113032868
https://urn.fi/URN:NBN:fi:amk-2023113032868
Tiivistelmä
The thesis researched the consumer preferences in sauna heater markets in Finland and reflected the results on the current market competition situation. The objective was to find out which companies react the most inclusively to these customer preferences and can therefore increase their competitiveness. A literature review was conducted for a deeper understanding of the concepts and their application regarding the subject. The theoretical part includes versatile information regarding topics of competitiveness, competitive advantage, and competitive strategy. Information for these subjects was gathered from various academic sources. Competitiveness was defined as the company’s ability to respond to customer needs more inclusively and with higher profitability than its competitors.
A quantitative survey was conducted as part of the market research. Descriptive research method was used in the survey and answers were received from all around Finland, in 14 municipalities in total. Another ques-tionnaire was sent out to retailers as a part of the company comparison to gather more information. The target number of responses for the market research was set to 100, which was achieved in approximately three weeks. Google Forms was chosen to be the tool for creating the survey and the results were then analyzed in Excel using the Pivot table tool. Survey questions were in Finnish to ensure the target sample population would surely understand them correctly. This would also most likely increase the response rate. The survey was distributed through Facebook groups, mainly in Central Finland but some other cities were also added to expand the sample geographically. Questions were framed using the Performance polar diagram indicators which were also used for the firm comparison. The firm comparison at the end used the gathered primary and secondary data sources.
The results of the study show that despite the large number of manufacturers, the stove market is concen-trated in a few manufacturers and brands, the most popular of which are Harvia and Narvi. They seem to have the best know-how to satisfy customers' needs. However, many players in the industry seem to remain unnoticed by the customers which is sure to impact their overall competitiveness. The reasons certainly vary, but the impact on the overall competitiveness of the firms concerned is certainly significant.
A quantitative survey was conducted as part of the market research. Descriptive research method was used in the survey and answers were received from all around Finland, in 14 municipalities in total. Another ques-tionnaire was sent out to retailers as a part of the company comparison to gather more information. The target number of responses for the market research was set to 100, which was achieved in approximately three weeks. Google Forms was chosen to be the tool for creating the survey and the results were then analyzed in Excel using the Pivot table tool. Survey questions were in Finnish to ensure the target sample population would surely understand them correctly. This would also most likely increase the response rate. The survey was distributed through Facebook groups, mainly in Central Finland but some other cities were also added to expand the sample geographically. Questions were framed using the Performance polar diagram indicators which were also used for the firm comparison. The firm comparison at the end used the gathered primary and secondary data sources.
The results of the study show that despite the large number of manufacturers, the stove market is concen-trated in a few manufacturers and brands, the most popular of which are Harvia and Narvi. They seem to have the best know-how to satisfy customers' needs. However, many players in the industry seem to remain unnoticed by the customers which is sure to impact their overall competitiveness. The reasons certainly vary, but the impact on the overall competitiveness of the firms concerned is certainly significant.