Market opportunities in emerging markets : case study: Rideascout's innovative vehicle and Vietnamese market
Bui, Huyen-Anh (2015)
Lahden ammattikorkeakoulu
2015
All rights reserved
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-201505076783
https://urn.fi/URN:NBN:fi:amk-201505076783
Tiivistelmä
Nowadays, there is no limit for innovation. Successful innovative products promise to bring about dramatic changes to the world. Rideascout, a Finnish start-up, is developing their new product, an innovative vehicle. In order to understand how their product could be used in certain market areas, the company decided to carry out an extensive market research. As part of the project, this thesis aims to explore possible uses and market opportunities for the product in Vietnam and more specifically in Hanoi, the capital.
The thesis employs deductive reasoning and qualitative research method. Primary data are gathered from interviewees with 26 Hanoi consumers and the case company. Meanwhile, secondary data are taken from trustworthy and honest sources. In the literature review, the thesis presents discussions about emerging markets and market opportunities in such markets. The theoretical framework utilizes two marketing tools PESTEL and Porter’s Five Forces. In the empirical part, there are three analyses. The country analysis, backed by PESTEL, points out certain macro environment opportunities and challenges for the company. Furthermore, Porter’s Five Forces help examine the competitiveness of the car industry to which the researched product currently belongs. Besides, product adaptation ideas from consumers’ interviews are proposed to the case company because they represent the actual demand and expectations of consumers. The findings of this thesis indicate there is, indeed, a niche market opportunity for the case company in Vietnam even though there are several external challenges to overcome. In brief, the thesis acts as a reference for the case company when they make their decision to enter the Vietnamese market.
The thesis employs deductive reasoning and qualitative research method. Primary data are gathered from interviewees with 26 Hanoi consumers and the case company. Meanwhile, secondary data are taken from trustworthy and honest sources. In the literature review, the thesis presents discussions about emerging markets and market opportunities in such markets. The theoretical framework utilizes two marketing tools PESTEL and Porter’s Five Forces. In the empirical part, there are three analyses. The country analysis, backed by PESTEL, points out certain macro environment opportunities and challenges for the company. Furthermore, Porter’s Five Forces help examine the competitiveness of the car industry to which the researched product currently belongs. Besides, product adaptation ideas from consumers’ interviews are proposed to the case company because they represent the actual demand and expectations of consumers. The findings of this thesis indicate there is, indeed, a niche market opportunity for the case company in Vietnam even though there are several external challenges to overcome. In brief, the thesis acts as a reference for the case company when they make their decision to enter the Vietnamese market.