Market entry strategy for Kari Finn float switch into the Nigerian market: Case company Kari Finn Oy
Ebojie, Godfrey Osazie (2020)
Lataukset:
Ebojie, Godfrey Osazie
2020
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2020060316636
https://urn.fi/URN:NBN:fi:amk-2020060316636
Tiivistelmä
For every business that considers market expansion on an international scale, adopting the right market entry mode for specific markets is essential. It lays the foundation for the strategy and exposes the risk levels and benefits for the proposed plan. The main drive of this thesis is to make a research on the market entry modes which Kari Finn Oy, the case company, can adopt in expanding their float switch market in a foreign country, Nigeria.
The theoretical part of the thesis adopts a deductive approach to evaluate and analyze the various modes and theories of market entry to make a concrete decision on the best entry strategy for Kari Finn Oy. It also examines the PESTEL analysis, SWOT analysis, and Porter’s five forces to reveal how they play in influencing the case company’s market entry strategy. Additionally, the qualitative research method was used to extract answers to the research questions raised in the thesis. Primary data was collected through interviews with relevant company and industry stakeholders and secondary data were obtained from internet sources and other existing literature.
The study result reveals that there are several possible strategies that the case company, Kari Finn Oy, can adopt to enter the Nigerian market. It also indicates that the most viable entry strategy will be through foreign direct investment by the establishment of a subsidiary firm in Nigeria. According to the study, this strategy will give the case company, Kari Finn Oy, the long-term benefit to leverage on ownership of facilities, have direct dealings with suppliers and customers alike, and invariably a stronger control of its business operations. Further studies are required to significantly analyze the Nigerian market as well as the unique customer persona within the supply chain. The result of the thesis can be used to give insight and information to the case company for its market expansion goals.
The theoretical part of the thesis adopts a deductive approach to evaluate and analyze the various modes and theories of market entry to make a concrete decision on the best entry strategy for Kari Finn Oy. It also examines the PESTEL analysis, SWOT analysis, and Porter’s five forces to reveal how they play in influencing the case company’s market entry strategy. Additionally, the qualitative research method was used to extract answers to the research questions raised in the thesis. Primary data was collected through interviews with relevant company and industry stakeholders and secondary data were obtained from internet sources and other existing literature.
The study result reveals that there are several possible strategies that the case company, Kari Finn Oy, can adopt to enter the Nigerian market. It also indicates that the most viable entry strategy will be through foreign direct investment by the establishment of a subsidiary firm in Nigeria. According to the study, this strategy will give the case company, Kari Finn Oy, the long-term benefit to leverage on ownership of facilities, have direct dealings with suppliers and customers alike, and invariably a stronger control of its business operations. Further studies are required to significantly analyze the Nigerian market as well as the unique customer persona within the supply chain. The result of the thesis can be used to give insight and information to the case company for its market expansion goals.