Market analysis of a baby care product : Case Lulla Doll of RoRo Care
Ly, Diem (2017)
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2017053011089
https://urn.fi/URN:NBN:fi:amk-2017053011089
Tiivistelmä
The purpose of the thesis is to find out whether Finland is a potential market for a baby care product - Lulla Doll. This is a doll created by RoRo Care, an Icelandic startup. The thesis studies the macro business environment in Finland as well as the consumer behavior towards baby care products. Moreover, this thesis aims to define target customers for Lulla Doll and the means to reach these segments in light of social media marketing. The main research method adopted was qualitative approach. In particular, researcher conducted desk research, observation and gathered data from a questionnaire during the research. The theory framework of the thesis focuses on PESTEL analysis, Aaker and McLoughlin’s market analysis theory, and Porter’s Five Forces model.
Business environment in Finland is relatively favourable due to transparency, low-corruption, and growing economy. It is a high-context society with a high living standard that is open to various marketing channels’ accessibility. Lulla Doll has to face the external firm challenges to gain market entry. In Finnish context, these challenges are tendency for low-risk, pratical mindset of Finns and difficulty of Finnish as a language. Opportunities for Lulla Doll are the mother’s need for free time and low competition of babycare industry in Finland. Potential segments are mothers aged 28 to 34, who are employed and live in urban areas. To enter the Finnish market, Lulla Doll should emphasize persuasive benefits to mothers and parents beside mentioning advantages for their babies’ well-being.
Business environment in Finland is relatively favourable due to transparency, low-corruption, and growing economy. It is a high-context society with a high living standard that is open to various marketing channels’ accessibility. Lulla Doll has to face the external firm challenges to gain market entry. In Finnish context, these challenges are tendency for low-risk, pratical mindset of Finns and difficulty of Finnish as a language. Opportunities for Lulla Doll are the mother’s need for free time and low competition of babycare industry in Finland. Potential segments are mothers aged 28 to 34, who are employed and live in urban areas. To enter the Finnish market, Lulla Doll should emphasize persuasive benefits to mothers and parents beside mentioning advantages for their babies’ well-being.