A business plan for expanding the market for beeswax wraps in Finland
Villegas, Sonja (2024)
2024
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2024081624183
https://urn.fi/URN:NBN:fi:amk-2024081624183
Tiivistelmä
This thesis was carried out based on the author’s business idea. The author wanted to assess the potential of expanding the beeswax wrap market in Finland. A Business Plan was developed to map out a clear path for the business and to identify effective marketing strategies that promote sustainable consumer products.
The author used only secondary data, sourcing information from a literature review on business planning and marketing strategies. The process involved critically analyzing the findings from academic journals, articles, web sources, and books to align with the study’s objective of developing a Business Plan. Using existing research helped the author speed up the research process by relying on a vast number of established theories and frameworks.
Using a combination of market analysis tools, including PESTLE, SWOT, and competitive analysis, the study explored the market potential for reusable beeswax wraps as an eco-friendly alternative to single-use plastic. Financial projections and strategic marketing approaches were developed based on these analyses.
The findings of the research reveal a favorable market environment for beeswax wraps in Finland, mainly driven by its rising consumer interest in sustainability, and by a growing willingness to pay a premium price for sustainable products. The projected profitability for the business was estimated within five months of its launch. The business plan shows that the startup can promote sustainable consumption with targeted marketing and high-quality products that fit the values of eco-conscious Finnish consumers.
The author used only secondary data, sourcing information from a literature review on business planning and marketing strategies. The process involved critically analyzing the findings from academic journals, articles, web sources, and books to align with the study’s objective of developing a Business Plan. Using existing research helped the author speed up the research process by relying on a vast number of established theories and frameworks.
Using a combination of market analysis tools, including PESTLE, SWOT, and competitive analysis, the study explored the market potential for reusable beeswax wraps as an eco-friendly alternative to single-use plastic. Financial projections and strategic marketing approaches were developed based on these analyses.
The findings of the research reveal a favorable market environment for beeswax wraps in Finland, mainly driven by its rising consumer interest in sustainability, and by a growing willingness to pay a premium price for sustainable products. The projected profitability for the business was estimated within five months of its launch. The business plan shows that the startup can promote sustainable consumption with targeted marketing and high-quality products that fit the values of eco-conscious Finnish consumers.