Developing a business model through marketing research and strategic management models
Kiviluoma, Veera (2025)
2025
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-202502233263
https://urn.fi/URN:NBN:fi:amk-202502233263
Tiivistelmä
A strategic business model describes how company is operating in respect of customers, partners and competitors in a way that creates profit. Companies that have planned their business thoroughly are more likely to succeed in execution.
Therefore, this thesis aims to develop a business model for a new service business idea. The theoretical framework introduces information for designing and executing marketing research and presents a selection of strategic management models together with principles of competitive strategies. SWOT, PESTEL and Porters five forces are introduced for business environment scanning. Business model canvas, and it´s triple layered version, balanced scorecard, strategy map and blue ocean are forming the selection of strategic management models. Also 7P marketing strategy for services is included. The framework also offers an introduction to targeted customer segment as consumers and marketing targets.
For business model development it was designed and executed marketing research that aimed to identify market potential and business opportunities and problems. The marketing research revealed existing market potential and characteristics that are valued in customer evaluation of the service. These findings are used in designing process of the business model.
SWOT analysis and business model canvas has been reflected as strategic tools for business model design in this study. During the process canvas was expanded to triple layered based to the findings in the process. As a result of this process there´s a strategic business model designed including business to customers and business to business functions. Sustainability and social responsibility were part of the development process since they are key elements for businesses in future.
Moreover, as it is a new and innovative business idea, following research and more detailed calculations are suggested. As the possibility of B2B function was found late in the process, it wasn´t part of the marketing research carried out. Therefore, following framework and marketing research for this function would give valuable insight for the futures development of this business model.
Therefore, this thesis aims to develop a business model for a new service business idea. The theoretical framework introduces information for designing and executing marketing research and presents a selection of strategic management models together with principles of competitive strategies. SWOT, PESTEL and Porters five forces are introduced for business environment scanning. Business model canvas, and it´s triple layered version, balanced scorecard, strategy map and blue ocean are forming the selection of strategic management models. Also 7P marketing strategy for services is included. The framework also offers an introduction to targeted customer segment as consumers and marketing targets.
For business model development it was designed and executed marketing research that aimed to identify market potential and business opportunities and problems. The marketing research revealed existing market potential and characteristics that are valued in customer evaluation of the service. These findings are used in designing process of the business model.
SWOT analysis and business model canvas has been reflected as strategic tools for business model design in this study. During the process canvas was expanded to triple layered based to the findings in the process. As a result of this process there´s a strategic business model designed including business to customers and business to business functions. Sustainability and social responsibility were part of the development process since they are key elements for businesses in future.
Moreover, as it is a new and innovative business idea, following research and more detailed calculations are suggested. As the possibility of B2B function was found late in the process, it wasn´t part of the marketing research carried out. Therefore, following framework and marketing research for this function would give valuable insight for the futures development of this business model.