Developing a Market Attractiveness Evaluation Process for a High Tech Agriculture Company
Snyder, Kasey (2025)
2025
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2025052113948
https://urn.fi/URN:NBN:fi:amk-2025052113948
Tiivistelmä
The objective of this Master’s Thesis is to design a systematic, data driven business process to evaluate regional market attractiveness for entering the fresh produce industry in North America. The case company has successfully designed and operated highly controlled vertical farm technology platforms in Europe. However to expand globally, they need a systematic process for analyzing the attractiveness of international markets. The selection of a suitable international market is a critical step in ensuring their business model will be successful.
The research strategy used in this thesis is applied action research strategy. The research design included the current state analysis, literature review, proposal building, and validation stages. The data was collected through internal document review, online interviews and workshops with key stakeholders in the case company, analysis of internal documents as well as high-tech agriculture industry experts and fresh produce retail experts.
In the current state analysis, the three identified weaknesses in the current market assessment process were: lack of internationalization strategy, lack of in-depth market intelligence, and lack of strategic partnerships with high trust. The theoretical framework review focused on the topics of internationalization strategy, tools for listing, weighting and ranking key criteria, and an approach to relationship development. The final proposal is based on two simultaneous processes for regional market assessment and the frameworks to complete each stage or phase of the processes. The proposal was validated during an online presentation to the case company CEO and Chairman of the Board.
This Master’s Thesis revealed the underlying challenges in the case company’s current regional market assessment process. These challenges are common to small and medium sized born global companies which require production facilities in their new international target market. The proposed dual process for assessing regional market attractiveness enables the case company to perform tasks in line with the clearly communicated internationalization strategy. It also ensures that the market assessment is based on reliable, objective and relevant data. Finally, the optimal market selection will include a region in which the company has developed a social capital through a network of partners and identified strategic alliances based on high trust relationships.
The research strategy used in this thesis is applied action research strategy. The research design included the current state analysis, literature review, proposal building, and validation stages. The data was collected through internal document review, online interviews and workshops with key stakeholders in the case company, analysis of internal documents as well as high-tech agriculture industry experts and fresh produce retail experts.
In the current state analysis, the three identified weaknesses in the current market assessment process were: lack of internationalization strategy, lack of in-depth market intelligence, and lack of strategic partnerships with high trust. The theoretical framework review focused on the topics of internationalization strategy, tools for listing, weighting and ranking key criteria, and an approach to relationship development. The final proposal is based on two simultaneous processes for regional market assessment and the frameworks to complete each stage or phase of the processes. The proposal was validated during an online presentation to the case company CEO and Chairman of the Board.
This Master’s Thesis revealed the underlying challenges in the case company’s current regional market assessment process. These challenges are common to small and medium sized born global companies which require production facilities in their new international target market. The proposed dual process for assessing regional market attractiveness enables the case company to perform tasks in line with the clearly communicated internationalization strategy. It also ensures that the market assessment is based on reliable, objective and relevant data. Finally, the optimal market selection will include a region in which the company has developed a social capital through a network of partners and identified strategic alliances based on high trust relationships.