Establishing a Customer Approach and a Product Promotion Plan for a Start-up Busi-ness in Fruit and Tea Based Beverages
Nguyen, Thu; Nguyen, Thu (2018)
Nguyen, Thu
Nguyen, Thu
Laurea-ammattikorkeakoulu
2018
All rights reserved
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2018110116506
https://urn.fi/URN:NBN:fi:amk-2018110116506
Tiivistelmä
This thesis was conducted to gain an insight on the fruit beverage industry in the Finnish market and to define a suitable customer group. Therefore, the product promotion plan for Pin Station was created to attract customers within the age group of 20 to 60. Pin Station is a start-up business selling drinks with the aim to support physical and mental health benefits, especially smoothie products.
In order to carry out the research, the group applied knowledge from academic sources including theories and models about customer insight, segmentation, and the 4Ps marketing mix. The exploited qualitative research methods are the semi-structured interview, participant observation, and desk research method. During the process, the research included testing and a market trial in three locations that were Samrat Restaurant, Pinto B’staurant and Bar Laurea. The trial incorporated interviews with potential customers and the founder of Bumi café, as well as carrying out participant observations and desk research. Through the research, an understanding of current trends, and what the needs of customers are, was successfully achieved. With the knowledge and information gained through the research, the target customer based was determined, the main products decided and the menu designed. A well-constructed promotion plan to approach potential customer groups was also drafted for the future business of Pin Station.
After the research, there are important recommendations that a start-up business should carefully consider. First of all, it is crucial to understand the overview of both the niche market and the general market in the industry on which business is focusing. Besides, in order to launch the product promotion plan, business has to concentrate on defining, understanding and segmenting target customers. Moreover, the authors realized that the trend of sustainability issues is significantly increasing and developing in today’s society. Thus, this current trend should be seriously taken into consideration when building up the business idea and starting a business operation.
In order to carry out the research, the group applied knowledge from academic sources including theories and models about customer insight, segmentation, and the 4Ps marketing mix. The exploited qualitative research methods are the semi-structured interview, participant observation, and desk research method. During the process, the research included testing and a market trial in three locations that were Samrat Restaurant, Pinto B’staurant and Bar Laurea. The trial incorporated interviews with potential customers and the founder of Bumi café, as well as carrying out participant observations and desk research. Through the research, an understanding of current trends, and what the needs of customers are, was successfully achieved. With the knowledge and information gained through the research, the target customer based was determined, the main products decided and the menu designed. A well-constructed promotion plan to approach potential customer groups was also drafted for the future business of Pin Station.
After the research, there are important recommendations that a start-up business should carefully consider. First of all, it is crucial to understand the overview of both the niche market and the general market in the industry on which business is focusing. Besides, in order to launch the product promotion plan, business has to concentrate on defining, understanding and segmenting target customers. Moreover, the authors realized that the trend of sustainability issues is significantly increasing and developing in today’s society. Thus, this current trend should be seriously taken into consideration when building up the business idea and starting a business operation.