The market potential of subscription-based educational toy kits in Finland : consumer behavior
Lang, Flora; Cohen, Ariel (2024)
2024
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2024111928780
https://urn.fi/URN:NBN:fi:amk-2024111928780
Tiivistelmä
The aim of this bachelor’s thesis was to conduct market research for the authors’ project, BabyRoo. BabyRoo focuses on subscription-based educational toy kits for infants, designed to support early childhood development through play. The primary objective of this thesis was to gain understanding about who are the potential customers, what are their purchasing behaviors, motivations, and barriers and would there be fit in the Finnish markets for such a unique product. The primary research questions were 1. What do BabyRoo’s customers take into consideration when deciding whether to subscribe to the SBS, besides money? 2. Does BabyRoo’s business model have a market potential in Finland?
The research was divided into two main parts, theoretical and practical. Qualitative methods were used, and nine interviews were conducted among three demographic groups: grandparents, parents with two children, and soon-to-be parents. With the use of thematic analysis, the collected data was divided into themes. The information gathered from the interviews will be used for product development, creating customer profiles for the different demographic groups, market plans and for future research.
The primary findings showed varied perspectives among the different demographic groups. From targeted information for parents, great reviews and research-backed information to the importance of customization, quality, and sustainability. The main concerns were the environmental impact, usability of all of the items in the box and cost. All of the attendees showed genuine interest in the product and the overall feedback gathered was positive.
The research was divided into two main parts, theoretical and practical. Qualitative methods were used, and nine interviews were conducted among three demographic groups: grandparents, parents with two children, and soon-to-be parents. With the use of thematic analysis, the collected data was divided into themes. The information gathered from the interviews will be used for product development, creating customer profiles for the different demographic groups, market plans and for future research.
The primary findings showed varied perspectives among the different demographic groups. From targeted information for parents, great reviews and research-backed information to the importance of customization, quality, and sustainability. The main concerns were the environmental impact, usability of all of the items in the box and cost. All of the attendees showed genuine interest in the product and the overall feedback gathered was positive.