Determining the role of brand innovation towards loyalty in fast moving consumer goods in Finland
Hussain, Atif (2024)
2024
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2024092325527
https://urn.fi/URN:NBN:fi:amk-2024092325527
Tiivistelmä
This thesis examined how brand innovation affects brand loyalty in Finnish fast-moving consumer goods. The study examined how product development, packaging, and marketing methods affect brand loyalty. The theoretical part discussed the fast-moving consumer goods sector, focusing on factors influencing brand innovation, consumer behavior, and market trends. Additionally, a small-scale consumer survey was conducted with a sample of Finnish customers.
According to the survey results, most consumers value innovation and expect businesses to always release new and improved items. The survey also found that customers are more loyal to innovative brands. Innovation can raise product pricing, thus not all customers will stay loyal. This shows that innovation is valued but must be balanced with pricing to retain customers. The findings revealed that brand innovation is a crucial factor in maintaining customer loyalty in Finland’s FMCG sector. How ever, it is essential to align innovations with consumer needs, perceived value, and broader societal trends, such as sustainability. The study concludes that effective communication of these innovations is necessary to maximize their impact on consumer loyalty.
This thesis provides valuable insights for FMCG firms, offering strategies to enhance their competi tive advantage through targeted innovation efforts. The research benefits FMCG firms in that they can learn the relationship between innovation and loyalty and strategy is provided with methods of enhancing their competitiveness through innovation.
According to the survey results, most consumers value innovation and expect businesses to always release new and improved items. The survey also found that customers are more loyal to innovative brands. Innovation can raise product pricing, thus not all customers will stay loyal. This shows that innovation is valued but must be balanced with pricing to retain customers. The findings revealed that brand innovation is a crucial factor in maintaining customer loyalty in Finland’s FMCG sector. How ever, it is essential to align innovations with consumer needs, perceived value, and broader societal trends, such as sustainability. The study concludes that effective communication of these innovations is necessary to maximize their impact on consumer loyalty.
This thesis provides valuable insights for FMCG firms, offering strategies to enhance their competi tive advantage through targeted innovation efforts. The research benefits FMCG firms in that they can learn the relationship between innovation and loyalty and strategy is provided with methods of enhancing their competitiveness through innovation.