Competition analysis of beekeeping businesses in southwest of Finland
Jaatinen, Joonas (2024)
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2024110427284
https://urn.fi/URN:NBN:fi:amk-2024110427284
Tiivistelmä
An essential component of a company plan is competition analysis. Understanding the existing market, items offered, and product demand is crucial for a successful business endeavor when launching a new firm. Starting a modest beekeeping company was the researcher's original inspiration for this thesis.
The theoretical foundation for this thesis was the blue ocean strategy. This answers the first research question: what is a competitor analysis and how is it carried out? Based on this theoretical framework, the pricing of products and the product ranges of 10 closest situated beekeeping companies in Finland were examined. The researcher was interested in learning about their marketing strategies and top selling channels. The second and third research questions are addressed by this market research: what are the key products on which Finnish beekeepers compete and what are their sale channels?
The information was mostly gathered in two stages from the beekeeping businesses´ websites. Finding rivals who matched the profile for this thesis was the primary goal of the first stage. The real market research was conducted in the second stage using a custom-made coding plan.
The findings show most of the beekeeping companies have a wide variety of products and they focus on selling cheap or medium-priced honey in large quantities. Only one company had premium prices and focus on niche products at the same time. The company´s strong brand identity makes it possible to ask for premium prices. There might be a blue ocean in focusing on a niche product that is common in other countries but has not yet established itself here in Finland.
The theoretical foundation for this thesis was the blue ocean strategy. This answers the first research question: what is a competitor analysis and how is it carried out? Based on this theoretical framework, the pricing of products and the product ranges of 10 closest situated beekeeping companies in Finland were examined. The researcher was interested in learning about their marketing strategies and top selling channels. The second and third research questions are addressed by this market research: what are the key products on which Finnish beekeepers compete and what are their sale channels?
The information was mostly gathered in two stages from the beekeeping businesses´ websites. Finding rivals who matched the profile for this thesis was the primary goal of the first stage. The real market research was conducted in the second stage using a custom-made coding plan.
The findings show most of the beekeeping companies have a wide variety of products and they focus on selling cheap or medium-priced honey in large quantities. Only one company had premium prices and focus on niche products at the same time. The company´s strong brand identity makes it possible to ask for premium prices. There might be a blue ocean in focusing on a niche product that is common in other countries but has not yet established itself here in Finland.